Kelly, Southwest Airlines CEO, could forgo salary
Unpaid wage would last through 2021
An unpredictable first time: Southwest Airlines decided to approach the positions of unions and agree on a series of cost cuts, a fact that has never happened in the history of the company that lasted for about half a century. Gary Kelly, chief executive of the American airline, published a video message in the last few hours in which he officially announced the negotiations, given that the levels reached by air transport have now returned to those of the seventies due to the coronavirus pandemic. The most concrete danger is that Southwest's quarterly losses amount to several billion dollars and a recovery will have to wait at least until the end of 2021.
In addition to the cuts and job concessions, Kelly himself is willing to give up his salary until December next year, while the "older" executives could accept a 20 percentage point salary cut. The commitment of the stars and stripes carrier is not to fire any employees before the beginning of 2021, a promise also reaffirmed in the video message. Just in recent days, the CEO had said he was confident and optimistic about the future of the airline, a sentiment still unaffected by the absence of state aid which had a deadline set for last September 30th (read also the article published by AVIONEWS).
AVIONEWS - World Aeronautical Press Agency