AIRWAYS NZ CEO Salary

[cya]

Interesting to note from NZ Airways Corporation 2003/2004 Annual Reports that Airways CEO Ashley Smout has had a 22.8 % rise in remuneration ( $310,000 to $380,000) - and this is after convincing his employees that the company had fallen on hard times post-9/11.

Lo and behold, negotiations with the major employee groups complete, Ashley and the Board members suddenly have huge pay rises, the NZ Govt has a huge dividend, user Airlines have rebates and the staff are left out...... A familiar tale ??

[ZK-NSN]

Probably the extra profit the Assh*les make from changing the AIP and charts every 2 minutes. Can anybody tell me why the IFG that used to fit in 1 folder now has to be made into 2?

[BCF Breath]

Don't forget that Air NZ's Chairman Mr. Palmer got a 117% pay rise from $90k to $195k. And Ralph got 15% to $1.25m.

Remembering we're in hard times....

No wonder that the 2 pilot unions and the F/A's told them where to put their contracts!!

[troppo]

Irrespective of wage negotiations Ralph has earnt every cent of the $1.25 mil...give the bloke some credit for once!
As for the Chairmans contribution, the skills and experience that he brings to the board is also worth his realtively small fee of $195k.
NZ CEO pay and board of directors fees are low by world standards. Their respective increases reflect the value they have added to the company (ie shareholder's return).

:8

[Far Canard]

Don't give all the credit to Ralph regarding Air NZ. There was a big hand out from Helen plus a kind operating environment. With a high NZ dollar, high fuel prices and heavy competition on the Tasman I expect he will show his real worth or possibly bail so he doesn't loose his Midas touch status.

As for the CEO of Airways I guess he is all WWW'd out.

[Yankee_Doodle_Floppy_Disk]

Airways CEO should be happy with a SIP cheque, a CPI increase and the knowledge that he is valued as an employee. Isn't that the line that Airways negotiators always push? :*

On the other hand, it's nowhere near as much as Judy Bailey is getting.

[BCF Breath]

troppo
But without the STAFF there would be nothing. Silly little %ages on contracts.

I'm not against they getting increases, esp a Chairman only on 90k, but that size, all at once.

[troppo]

ok...i level that without ralph norris there would be nothing
he has balanced the needs of stakeholders (ie shareholder return and social responsiblity) and he deserves recognition for it

without the staff...yes there would be something...there would be outsourcing like there is elsewhere throughout the industry around the world...call centre staff in india and contract pilots earning less would be a start...it's a fact of life, not just in aviation but in business in general

if outsourcing was the case ralph could expect an even healthier pay rise as he would be able to deliver a greater return to the shareholder through a significantly reduced cost base...there will always be someone that will work for less and you only need to read other threads about qantas's moves to outsource some operations

it's business and it's all about pay for performance

[dirty deeds]

Same dog, different leg action. Whats the point in getting upset. This is what politiciations do, CEO's do and big business. They look after themselves before anyone else, its what they call human nature. I dont agree with this at all, but its a fact.