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US Airways Chairman/CEO receives USD2.6m in compensation in 2009

3-May-2010 12:44 PM

US Airways Chairman and CEO, Doug Parker, received total compensation of approximately USD2.6 million in 2009, a 31% year-on-year reduction (Associated Press, 30-Apr-2010). The majority of the reduction was attributable to the carrier's pre-tax loss in the period, which made Mr Parker ineligible for some incentive pay, and also due to the carrier's share price weakness. Mr Parker, whose USD550,000 base salary did not change, also received USD429,000 in incentive pay, as the airline met operational goals, including on-time performance, improvements in baggage handling, customer complaints and cost management. Mr Parker also received stock options valued at USD1.5 million.