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.
US Airways Chairman/CEO receives USD2.6m in compensation in 2009
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Emirates has multiple reasons for cutting back on US capacity
As the most conspicuous and largest, Emirates Airline often takes on its shoulders the increasingly difficult task of defending Gulf aviation. Emirates often single handedly represents the Gulf and "Middle East Big 3", in much the same way as Dubai carries regional geopolitics.
Just as there are significant differences between the Big 3 US airlines who have strenuously opposed the Gulf carriers in the US market, so Emirates is fundamentally different from its peers: it is longer established, has a larger home market and has had a more commercial mandate from the beginning.
Yet Emirates must compete in a market where many others would like a piece of that market. Just as Dubai Inc modelled itself in many ways on Singapore Inc, there are many who would follow the same trail. This does not lead to steady market conditions.
Certainly the policies of US President Trump have hurt aviation and tourism. But Emirates' announcement of a 19% reduction in services to the United States is less about US policies and more about the nature of the market forces that started before Trump was even a serious Presidential contender.
CAPA Americas Aviation Summit – navigating uncertainty in the era of Trump and changing tides
Aviation industry leaders and stakeholders will debate the shape of aviation in the Americas in a post Trump world. There is only one event in North America this year offering great insights into new trends and challenges emerging from the new US presidential administration and the churning global aviation markets. This takes place at the annual CAPA Americas Aviation Summit, to be held in Orlando, Florida on 4/5-April-2017.
The next few years for aviation in the Americas are filled with uncertainties, ranging from potential fallout from President Trump’s trade and travel policies to Brexit and the future shape and direction of US-China aviation relations.
“Information is the resolution of uncertainty” - Claude Shannon. Don’t miss this opportunity to gather crucial intelligence necessary for shaping the Americas aviation industry during the next decade.
Highlights from the comprehensive summit include: