Posts: 3484
Joined: Fri May 10, 2002 11:43 am

Delta: No 2003 Cash Bonuses

Wed Dec 24, 2003 6:14 am

Seems like one airline has the right idea:

Delta: No 2003 Cash Bonuses for Top Execs

"CHICAGO (Reuters) - Delta Air Lines' (NYSE:DAL - News) new chief executive, Gerald Grinstein, said on Tuesday the airline will not give cash bonuses for 2003 to top executives and that it is rethinking its approach to executive compensation.

In a memo to employees, Grinstein also said the No. 3 U.S. air carrier has developed a plan for some executives to defer separate retention bonuses that are payable in January."

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Never Trust Your Fuel Gauge
Posts: 1025
Joined: Wed Aug 11, 1999 3:47 am

RE: Delta: No 2003 Cash Bonuses

Wed Dec 24, 2003 7:49 am

Delta is in negotiations with its pilots' union. I would suspect that they do not want any of the negative PR that came with some other past decisions. The sooner the pilots' union and Delta come to an agreeemnt, the sooner Delta can get on with cutting some other expenses.