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."
more at: http://biz.yahoo.com/rb/031223/airlines_delta_2.html