Association of Flight Attendants-CWA, AFL-CIO
US Airways Executives Receive Millions in Stock While Passengers Continue to be Nickel and Dimed
Published in Mental Health Law Weekly, September 6th, 2008
Flight attendants at US Airways, represented by the Association of Flight Attendants-CWA (AFA-CWA), are outraged over the announcement that seven of the airline's top executives were recently awarded stock appreciation grants totaling millions of dollars. On August 5, 2008, less than one week after US Airways began charging passengers two dollars for non-alcoholic beverages, the company's Board of Directors Compensation Committee approved over 800,000 shares as part of the airline's "Equity Incentive Plan". Chairman and CEO Doug Parker received 275,000 shares.
The stock appreciation rights have an exercise price of $6.70, the fair market value of the company's common...
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