I make no connection with the airline stocks but there have been known to be cases where share prices are left to wilt under a new CEO who is then set very low hurdles to jump for a very tidy package of options with exercise prices set quite low . Kaching!!
Many take credit in a rising market (bonus please) and blame poor conditions, adverse trading etc when things go badly and often recognised for a job well done in tough circumstances. Bonuses all round. Mate, you just cannot lose.
I do think incentives are good if set at the right prices and it is a long term price not just a slash and burn root the company for a short term turnaround.