Times are tough for British Airways, but I have a lot of respect for Willie Walsh.
British Airways’ chief executive Willie Walsh has turned down a six-figure bonus for the second year as the carrier struggles with losses and a series of strikes by cabin crew.
The airline said in its annual report published Thursday that Walsh was eligible for bonus in the form of shares worth 334,000 pounds ($487,000) but he thought it was appropriate to say no.
Walsh also gave up a month’s pay last year, cutting his annual compensation to 674,000 pounds.
Sometimes it is impossible to win employees to your side, but I hope that disgruntled BA employees appreciate this gesture. Sure, he is still making nearly $1,000,000 this year before taxes, but I’d hardly call that unconscionable.
"I regret that we found ourselves at loggerheads with very valued members of staff at a critical time," Walsh said in the report.
For BA’s sake, I hope that the loggerheads ceases soon.