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Judge OKs Pay Plan For Mesaba Executives

Wed Jan 25, 2006 11:28 pm

http://www.twincities.com/mld/twincities/business/13703433.htm


The judge overseeing Eagan-based Mesaba Aviation's bankruptcy has ruled it can continue incentive and severance plans that could be worth a few million dollars to its executives. The pilots' union had protested the move as unfair at a time when other workers were being tapped for pay cuts. The plan places a $2 million cap on executive severance plan payments. He indicated it could be raised in the event of broad layoffs. Severance benefits for officers will be limited to one month's salary per month served, up to a maximum of one year's salary.