In what is being called a “show of solidarity” with his employees, JetBlue CEO David Barger has cut his pay in half for the remainder of this year as the company lost $7 million last quarter.
Bloomberg News notes that since Barger took the CEO position on May 7 of last year, fuel prices have risen a ridiculous 83 percent, which, if you haven’t noticed, has kinda hurt the airline industry. The same story also mentions that Barger is at least the third airline CEO to take an action such as this, following the heads of Continental and AirTran, both of whom cut their own salaries to varying degrees.
Now, this pay cut will comes with an announcement of more job cuts in the near future for JetBlue. And as I mentioned above, this pay cut only applies to Barger’s salary from now to the end of the year. And that still puts his base salary at $250,00 a year. However, it does show that perhaps the airlines are doing slightly more than passing the high fuel costs on to consumers.
You can takepart here to visit enviro.aero to find out more about what the airline industry views as the problems and solutions in regards to making our skies cleaner - and hopefully cheaper.
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Tagged as:airline prices • David Barger • fuel costs • JetBlue • JetBlue CEO • rising fuel costs
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