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Old 17th Dec 2002, 19:20
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HectorPascal
 
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easyJet managers must be good....

From "The Independent" website:

"EasyJet to pay £10m bonus to 38 managers
By Michael Harrison
11 December 2002
A group of senior easyJet executives are to receive an early Christmas present after the airline completed a key stage in the integration of its low-cost rival Go four months ahead of schedule.

The switch to a single air operator's licence, which took place on Monday, has triggered the first tranche of a £10m bonus payment for 38 top managers from the two airlines.

The executives will each receive a year's salary in shares in return for hitting the target early. The original deadline for operating under a common licence was next April.

The managers will be entitled to a further year's salary in shares when the airlines start operating under a single brand. Full integration of the airlines, scheduled to take place next summer, will trigger the award of a third tranche of shares.

EasyJet also indicated that it was preparing to go ahead with the €50m (£32m) takeover of British Airways' German subsidiary, Deutsche BA."
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