Meridian chiefs' £2.8m pay day
Two bosses of Meridian Aviation, a flight broker that was used by XL Leisure Group and which now also trades as Kiss Flights, were paid a total of £2.8 million last year.
Graham Rolph and Andre Cachia received £2,850,907 in “directors’ emoluments” in the year to the end of March 2008, according to accounts filed earlier this month at Companies House. The highest-paid director received £2,019,152.
The previous year, the two men were paid a total of £2,555,255, with the highest paid receiving £1,680,170. Rolph stopped being company secretary on August 13 this year.
According to the accounts, during the two financial years to March 31 this year, the company had two directors and one employee.
The payments to the highest-paid director made him among the biggest earners in the industry.
It would put him ahead of what Thomas Cook chief executive Manny Fontenla-Novoa stands to earn this year, whose £630,000 basic salary and potential 100% bonus could bring his package up to £1,260,000.
According to Meridian’s accounts, it made a pre-tax profit of £635,000 in the year to March 2008.
source: TTG Live