RedBaron007

Not surprising at all, but after everything the employees have given back to the airline to save it from sinking, one would think the CEO could suck it up and not take his huge salary for once....I guess maybe they don't want him to get sucked up by Delta?...as per another timely thread on the forum.


US Airways Gave CEO $5.9M Compensation
Monday April 16, 7:55 pm ET
By Chris Kahn, AP Business Writer
US Airways Gave CEO $5.9 Million in Compensation Last Year PHOENIX (AP) -- US Airways Chairman and Chief Executive Doug Parker received $5.9 million in compensation last year, according to an analysis of a federal regulatory filing made Monday.Parker is credited with turning two struggling airlines -- America West Airlines and the formerly bankrupt US Airways -- into moneymakers.
The Tempe, Ariz.-based US Airways Group Inc. is now the fifth-largest domestic airline. It posted a $303 million profit in 2006, and company officials say they've benefited from almost $1 billion in additional revenue, cost savings and other synergies related to America West's combination with US Airways.
Last month, US Airways said it mailed almost $59 million in profit sharing to employees. However, the airline refused to boost staff salaries and has yet to settle labor contracts with its pilots, flight attendants, machinists and fleet service workers.
"Once again, we're seeing corporate America make out like bandits and the front line employees are getting the shaft," John McIlvenna, a pilots union chairman, said after learning how much Parker earned.
Parker, 45, was paid a $550,000 salary in 2006, an amount that the company said has not increased since he took the helm of America West Airlines in September 2001.
He got $1.7 million in performance incentive payments. Parker also received other compensation of $47,947, including personal travel benefits and $11,072 in tax liability payments related to personal travel benefits, personal cell phone use, financial services and golf course club dues.
US Airways also gave Parker stock and options awards that had an estimated value of $3.5 million when they were granted on April 19, 2006.
The Associated Press calculates total pay including executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock and options awards granted during the year.
The calculations don't include changes in the present value of pension benefits or the company's cost of stock and options granted before 2006. The figures can differ from the company's total.
The proxy statement said the carrier's annual meeting will be at the Radisson Plaza-Warwick Hotel Philadelphia on May 15.
Shareholders are scheduled to vote on whether to re-elect Denise M. O'Leary, George M. Philip and J. Steven Whisler to three-year terms. They also will be asked to ratify the board's choice of an independent accounting firm for 2007, and to decide whether to publicize any political contributions made by the company.
US Airways released its executive compensation figures after the stock market closed. Its shares were up 11 cents, or less than 1 percent, to $45.34 Monday on the New York Stock Exchange.
US Airways Group Inc.: http://www.usairways.com