BA Salaries
British Airways’ chief executive Willie Walsh saw his total pay drop from £887,000 in the 2006 financial year to £625,000 in 2007, according to figures in the airline’s annual report, released yesterday.
The drop in pay was caused by the airline’s failure to meet its 8% target for operating margin. As a result, Walsh, along with other BA board members, received no performance related bonuses for the year.
The company has introduced a new bonus scheme for the current financial year which will see a director’s individual performance rewarded with a bonus of up to 10% of their base salary, which will be increased if company targets for operating margin, customer recommendation, punctuality and employee involvement are met.
The report also
revealed that Walsh’s base salary will rise from £614,400 to
£700,000 on 1 July. At the same time, chairman Martin Broughton’s
pay will rise from £300,000 to £350,000.