Bonuses for Airtours' Directors

[UhrCleared-Takeoff]

The directors of Airtours have decided to share £2m in bonuses despite stating that the outlook for 2002 remains "uncertain".

Full story from AFXpress:
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[1.3VStall]

Question is, will Mike Lee be able to afford to keep running his YAK 52 out of his £768,000 package?

[763 jock]

If they take the bonuses, how can they expect the troops to agree to a pay freeze? Now here's an opportunity for the Main Board to demonstrate their "leadership" skills! After you, Gents. <img src="tongue.gif" border="0"> <img src="tongue.gif" border="0">

[Sir Kitt Braker]

If in 2001 a pilot agreed to £X0000 a year for flying a number of hours - he should get it. If a director agreed to a bonus for specified results for 2001-he should get it. What have the prospects for the following year got to do with the price of eggs?

[763 jock]

AIH Pilots agreed a two year package wef April 2001. They are now being pressured to accept a freeze on the increment due in April 2002. You cannot have one rule for the Board and another for everyone else!

[Lou Scannon]

You can
and they will!!!

[sky9]

Now they have changed their name to MY-Travel, I suppose it should really be "MY-Bonus" and where is it "In MY-Backpocket". <img src="wink.gif" border="0"> <img src="wink.gif" border="0">

[ironbutt57]

Where are you from...disneyland? of course they will do it, that's what this sad industry is all about....rape it, then bury it...then go somewhere else and do it all over again. <img src="frown.gif" border="0"> <img src="frown.gif" border="0"> <img src="frown.gif" border="0">

[Lou Scannon]

In fairness to the Directors of Airtours, last years profits appeared high but only because of some sale of assets and no bonus was paid.
This years profits are actually higher than the real level last year so they qualify.

Judged by the rules they themselves set up they are entitled to their bonus but taking that bonus in todays climate will inevitably decrease their credibility rating in the company.

The new legislation that requires director perks to be approved by shareholders should go some way to resolve this problem. In the meantime it would be better if they were prepared to set the example rather than put themselves first in line.

[newswatcher]

What was the Airtours "staff" bonus for 2001?

In my company they have cancelled all bonuses, and made no annual pay increase. The top paid directors have had to take a 10% pay cut, and 10% of staff have been made redundant.

I note that, when asked about a £10k donation to sponsor a gathering of NW MPs at the Labour party conference DC, who was unaware of the event, replied "Did we really?"

[Mr Angry from Purley]

763 Jock don't forget those bonuses go down to Management Pilots as well!!.

Given that the Aviation Division has decreased by 50% by the closure of Air Belguim and Fly FTi, one could suggest a reduction in basic salary might not be amiss.

<img src="mad.gif" border="0"> <img src="mad.gif" border="0"> <img src="mad.gif" border="0">