The CEO of the US Airways Group, Doug Parker, said that he declined a $770,000 bonus last year and won't accept any bonuses until his airline becomes profitable.
Parker, the CEO of America West Airlines, oversaw the merger/takeover with US Airways in September 2005. The combined airline kept the US Airways name.
Why would Parker walk away from about three-quarters of a million dollars? He said it would be wrong for him to accept bonuses until US Airways employees get payments under a profit-sharing plan. "I was personally somewhat conflicted because I know full well our team earned and deserved it," he said. "But it seemed the right thing for me to say I'll decline the bonus." The bonus was tied to his performance when he was at the helm of America West.
Executive bonuses have been problems at other airlines, especially United and American, where then-CEO Don Carty was forced out in February 2003 after it became known that he accepted big bonuses when the airline was forced to slash the pay of others drastically.