United Q1 2011 Results
04-22-2011, 07:56 PM
#13
Gets Weekends Off
Joined APC: Feb 2006
Position: B737 CAPT IAH
Posts: 1,130
Not everyone is doing bad.....
Otto.......as I'm sure you're aware, as fuel has gone up and up, demand destruction is starting to take place (ie., people are reducing their driving and not fueling up as much). The airlines are being taken to the cleaners by the oil speculators, and they couldn't give a damn how bad we hurt or how many jobs it costs us. They are making money hands over fist, and we are the casualties of it. We cannot keep raising ticket prices every day due to high oil, as demand destruction hits us very quickly. Without paying passengers, you and I will NEVER get what we deserve. You'd better start caring about what things cost, or you'll be taking MORE cuts soon. I expect they'll start parking planes if it goes much higher.............. I feel the same as you do. I'm sick and tired of moving backwards in this career and watching management make (take) ALL the money..............but it seems to be a standard mode of operation in this industry and won't be changed any time soon. Pathetic in my book.
(Crain’s) — Top executives at United and Continental received big payouts from the merger of the two airlines last year.
Former Continental CEO Jeff Smisek, who was named chief executive of the combined United Continental Holdings Inc., received a total of $4.4 million in compensation, including $3.6 million in bonus payments, according to a proxy statement filed on Friday. His bonus doubled from the previous year, though his overall pay was essentially flat because of one-time retention payment he received from Continental a year ago.
Former United CEO Glenn Tilton received a pay package valued at $16.8 million, including $5.2 million in restricted stock that Mr. Tilton took in lieu of a severance payment he was eligible to receive because of the merger. He’ll receive the 207,157 shares of United Continental stock, which will vest when he completes his term as chairman of the Chicago-based carrier at the end of next year. Mr. Tilton also exercised stock options last year worth $2.2 million.
Former United President John Tague was paid $11.7 million, including $5.3 million in cash severance when he left the airline after the merger as the new airline consolidated management teams.
Kathryn Mikells, who had been United’s CFO, received a payout worth $9.4 million, including $4.4 million in severance pay, while former Executive Vice-President Graham Atkinson got payments valued at almost $7 million, including $3.6 million in severance.
Executives who remained with the airline also saw big pay increases. Pete McDonald, a former United executive who is chief operations officer, saw his total pay climb 30% to $3.9 million, including a $2 million bonus.
Zane Rowe, a former Continental executive who is chief financial officer, received compensation of $1.7 million. That’s about 23% lower than in 2009, when he received a one-time, $750,000 retention bonus at Houston-based Continental.
James Compton, another Continental executive who is chief revenue officer, received $2.5 million, or 4% more than he made a year earlier when he received a $750,000 retention bonus.
Irene Foxhall, executive vice-president for communications and government affairs, was paid $1.9 million in 2010. Her 2009 pay was not disclosed.
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