United Pilots: Glenn Tilton’s Excessive Pay Package Must Go
Chicago, Ill., September 29, 2008 – Pilots for United Airlines (Nasdaq: UAUA) today demanded that the UAL Board of Directors cut the pay for its CEO, Glenn Tilton, as a reflection of concern and solidarity with passengers and employees who are being forced to tighten their belts. At $10.3 million a year, Tilton’s compensation package—including salary, stock grants, options, and other added extras—is the highest in the airline industry. The CEO of American Airlines is paid $4.6 million a year, the CEO of Southwest Airlines makes $1.3 million, and the CEO of JetBlue gets $514,000. United’s pilots believe that there is no justifiable reason for the worst airline executive to be compensated the most. United Airlines has lost more money this year than nearly all other U.S. competitors combined.