The chief executive of Continental Airlines Inc. received total compensation last year of $7.3 million, about 6 percent less than he got in 2006, according to documents filed Tuesday.

Larry Kellner, 49, had a base salary of $712,500, according to the company's proxy filing in advance of its June 11 annual meeting in Houston.

His compensation also included:

Stock awards valued at about $2.6 million.

An increase in pension value of $705,460 (reflecting changes in mortality assumptions, new contributions and other factors).

$3.3 million in nonstock performance awards.

$43,000 in other compensation, including flight benefits, a $16,000 tax reimbursement tied to the flight benefits, a company car, financial planning and tax services, and reserved parking at Continental headquarters and Houston's George Bush Intercontinental Airport.

Kellner also was compensated for legal fees stemming from a review of his employment contract.

Kellner and President Jeffrey Smisek waived a 2 percent salary increase given to all Continental employees except flight attendants in 2007. The money went instead to "We Care," a fund to help employees facing unexpected emergencies.

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That's actually less pay than I expected. I'm not defending CEO pay, especially as we're under a concessionary contract, but aren't some of the CEO's at other carriers getting compensated WAAAAY more than this as they continue to lose HUNDREDS of millions QUARTERLY?