Times are turbulent for airlines right now. Many are in the process of massive layoffs or have asked their staff to take unpaid leave in order to slow the rate of cash burn. Most would agree that ‘good leadership’ is one that leads by example. To that end, here is a list of airline CEOs that are currently working without a salary during the COVID-19 pandemic. Pin Qantas CEO Alan Joyce will not collect pay for at least the rest of the financial year. Photo: Getty Images. “The only way to make an employee-wide pay cut possible is if management leads by example.” -Michael Maslansky, CEO of communications advisory firm maslansky + partners via Bloomberg The list
Below is a list of CEOs and their airlines who we know will not be taking any portion of their salary during part or all of this crisis. We’ll include additional information or quotes where applicable:
AirAsia CEO Tony Fernandes: Fernandes announced in April that he and Executive Chairman Kamarudin Meranun “will not be taking a salary during this period.” Other airline staff “have accepted temporary pay reductions of anywhere between 15-75%, depending on seniority, to share the impact this is having on [their] business”.
airBaltic CEO Martin Gauss: Gauss will not receive any of his €1.3 million ($1.42 million) salary throughout the crisis. Pin CEO Martin Gauss will not take his airBaltic salary for the duration of the crisis. Photo: airBaltic Air Canada CEO Calin Rovinescu: A spokesperson confirmed with us that Rovinescu, as well as Michael Rousseau, Deputy CEO and CFO, are currently waiving 100% of their salary given the impact of the COVID-19 pandemic upon the company.
Alaska Airlines CEO Brad Tilden: Both Alaska Airlines CEO Brad Tilden and airline President Ben Minicucci have reduced their base salaries to zero. This was announced in a regulatory filing on March 16, 2020, but was effective from March 7, 2020.
British Airways CEO Alex Cruz: The head of BA decided to forego his salary for two months , beginning late March. This means that decision will ‘expire’ at the end of this month. There is no news as to whether or not he will continue foregoing his salary. Pin From March through August, Delta Air Line’s CEO Ed Bastian will forego his salary. Photo: Delta Air Lines. Delta CEO Ed Bastian: In early March, Delta’s CEO wrote a letter to […]