Bankrupt United wants to award millions to top executives
Will the parent company of United Airlines pay $15 million in stock to its CFO after the carrier emerges from bankruptcy?
That possibility was raised in a media report by Bloomberg News, which said the proposal was part of parent company UAL’s latest offer to creditors and unions as the airline attempts to emerge from three years of bankruptcy.
Under the published plan, the company’s top eight executives would receive stock options worth $24 million.
United’s unions are objecting to the plan.
Said Joe Tiberti, spokesman for the International Association of Machinists:
“The members find it gross and disgusting that United executives are going to benefit from the worker’s sacrifices.”
As part of its efforts to cut costs, UAL terminated pension plans for thousands of its former employees. That responsibility was turned over to the federal government.
Report by David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
All eyes on Qatar as Qatar Airways leads a season of global events