Doug Parker nixes bonus
 

US AIRWAYS HEAD NIXES BONUS

By PAUL THARP

In a burst of corporate virtue, the new chief of the patched-up US Airways vows he won't accept his $770,000 bonus until his weak airline becomes profitable.

Shaky finances, however, didn't stop the aviation executive, W. Douglas Parker, from accepting separate perks valued at $21 million for helping merge two anemic carriers - America West and the twice-bankrupt US Airways - into the recharged airline he now heads.

Parker, 44, had headed America West and helped create the remodeled combination which took off five months ago with a bankroll of $2.5 billion cash for its third lease on life.

Parker made his bonus pledge yesterday just four weeks after the airline wound up its first quarter as a combined carrier - losing $261 million along the way.

He said he felt it wasn't right to accept money while times were tough for thousands of employees affected by layoffs and pay cuts in the painful merger.

Parker was owed his $770,000 bonus by America West for its performance in the final days ahead of the merger.

To keep Parker and other executives from bailing out during the complicated merger, hammered out in bankruptcy court, the airlines heaped on bonuses and awards.

What a humanitarian. A statue should be erected in his honor.

I have to give Doogie credit for not taking the cash. But let's see how many other valued management icons turn down the cash.

Doug still gets a sh!t load of stock grants and options per the executive compensation scheme. He won't be hurting at all.

I'm curious to see what Dougie Steal'in of NWA will receive when NWA exits. He's already guarranted $58,000 a month for life when he leaves. What else would anyone need or want? :eek:

I could live off of 58,000 a month......dont forget those stock options too...;)

Doogie isn't dumb.He knew if he took the money that all hell would break loose! Also with the HP pilots contract comming up for renegotiation he knew that we (both sides) would be looking for some of our money and benefits that were stolen last time around by Gerry glASS!

War eagle - are you going to get off reserve with the 3 757s coming East? Are these a trade for some 757s now on the certificate that are going away or is this growth? Enquiring minds want to know out West! Latest from the Joint Negotiating Committee was that they are trying for a unified contract by this summer - seniority list still far, far away!