Bonus Bucks Revealed for AA Execs

Millions paid out, but money amount is smaller

By Eric Kreindler
|  Friday, Apr 17, 2009  |  Updated 5:00 PM CDT
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Bonus Bucks Revealed for AA Execs

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American Airlines revealed executive bonuses in a federal filing on Friday.

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The top execs of American Airlines parent company received bonuses valued at $13.4 million in 2008, according to a filing to the Securities and Exchange Commission.

The Star-Telegram reported the bonus payout was about 19 percent smaller than the amount handed out in 2007.

The report also contained a quote from the compensation committee in the filing. "We believe that our executive compensation program should be considered in the context of the business environment in which we have operated during the last several years."

The filing comes just two days after American reported loses of $375 million in the first quarter.

 

This week, ground workers protested in Fort Worth against millions in stock-based bonuses for several hundred management employees, and on Wednesday the pilots' union said executives were "enriching themselves at the expense of front-line workers."

The Star-Telegram reported Gerard Arpey, AMR's chief executive, received compensation valued at $5.1 million last year. His package included a base salary of $666,348 and other miscellaneous compensation worth $60,293. He did not receive a cash bonus.

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