British Airways chief executive Willie Walsh has said no to his annual share bonus of £334,000.
The airline said Walsh has turned down his bonus for the last two years in light of the economic downturn.
“In light of the circumstances prevailing at the time of award, Willie Walsh felt it appropriate to decline his award,†it said.
The chief’s basic salary has also dropped from £735,000 to £674,000 after he waived his July pay packet.
It has been frozen at £735,000 for the coming year, although after changes in the bonus scheme, the chief exec could double his salary with bonuses.
Bonuses are dependent on the airline hitting targets following the Iberia merger and tie-up with American Airlines, improving industrial relations.
Meanwhile, BA cabin crew returned to work yesterday (Thursday) after the last of a series of five-day strikes.
Unite is now preparing to ballot its members on further strike action.
By Bev Fearis
