Continental execs forego salary, bonuses

As it announced its own steep cuts today, Continental Airlines also said that CEO Larry Kellner and president Jeff Smisek will forego their salaries for the remainder of the year, and give up any bonuses they would have received under the company's annual incentive plan.

The move surely caused some heads to explode at union offices around American Airlines. We quickly received an email from Karl Schricker, spokesman for the Allied Pilots Association, making the comparison to the stock bonuses accepted in April by American's executive team:

Continental and Southwest have leaders, AMR has bean counters. Continental announces cuts and their leaders decline pay and bonuses. AMR announces cuts and the next day quietly file 250% increases in bonuses with lower triggers.

- Trebor Banstetter

Comments

[AA Employee]

Continental Execs are showing true leadership in this time of uncertainty for the airlines. I commend them for their actions. I hope American Airlines will one day understand that the success of the airline is not just about them, but about their frontline employees. Accepting million's of dollars in bonuses while taking money away from your employees and charging passengers $15 for a checked bag, is not the way to run an airline.

Congrats to all the workers at Continental who have managment who truly understand.

[Frank]

Wow!

Leadership!

In the airline industry?

Someone call the Pope and ask if hell froze over.

[SkyGal]

The senior executives at AMR are right in there with the Continental Executives--except for the part about giving up their salary.

And the part where the AMR Board granted more generous, richer and easier to attain bonuses for the disastrous AMR management team (last place in on time, with over 1 in 3 flights late or canceled!).

Any other comparisons are just more of Lloyd Hill and his AA pilots twiting the facts to make it seem like Continental Airlines and AMR management are somehow "different."

Shame on the AA pilots.

[John S]

CAL execs just bought themselves some labor piece in a turbulent time. Smart move.