The CEO of Southwest Airlines will take a pay cut as the Dallas-based carrier struggles amid a drop in bookings related to the outbreak of coronavirus.
“I can confirm Gary stated he would reduce his salary, which has not increased since 2017, by 10 percent,” media relations manager Michelle Agnew told NBC 5 in an email.
In an internal email to employees on Monday, Kelly discussed the financial crisis the coronavirus is causing at Southwest and the airline industry.
“Gary reiterated that we are prepared and have a strong financial position, but cautioned that we are seeing an alarming drop in bookings and sales due to the Coronavirus, as we outlined in a form 8-K filing last week, with an estimated impact of $200-$300 million in the month of March alone,” Agnew said.
Agnew said “many of our potential action items are not ready for prime time, and we’ll provide updates as we make final decisions.”