A discussion about the airline industry, airline employees, and all things related

What a novel idea, a CEO of a major bankrupt airline not taking a bonus after the airline comes out of bankruptcy protection later this year.  Delta Air Lines CEO Gerald Grinstein said that he is refusing any stock, stock options or cash. 

Grinstein said he wants Delta instead to invest what he would have gotten in post-bankruptcy bonuses, to be used for scholarships and emergency hardship assistance for Delta employees, families and retirees.

It is about time that a CEO of a major airline gives back to the company, their employees and their employee’s families.  CEO’s make absorbent amounts of money when their bonuses and stock options are figured in. 

When United Airlines' management wanted 15% of that airline's stock divided among the top 400 executives when it exited bankruptcy last year. When bankruptcy creditors objected, executives ended up with 8%.  Northwest Airlines, which filed for Chapter 11 protection on the same day as Delta, filed its reorganization plan with the court on Feb. 15, leaving out its proposal for executive compensation after bankruptcy. The company has said it will file that at a later date.  The flight attendants have objected to that filling. 

This move by the CEO will hopefully raise employee morale at the airline which has suffered after years of bankruptcy and pay cuts. 

USAtoday