BALPA calls on easyJet to be clear about its executive bonus plan prior to their AGM
easyJet shareholders will be asked at the company’s AGM on Wednesday, 23rd December, to approve new executive bonuses without any details about what will be used to trigger them.
easyJet staff were told in an email last week that there would be changes to the airline’s bonus scheme, but so far, the company has released scant details into the public domain. Company shareholders will be asked to approve a scheme for the chief executive and other senior bosses which could see them getting millions in some cases. How can an incentive plan incentivise with no targets?
BALPA, which represents the airline’s pilots, has reported significant concern among easyJet staff about shifting the goalposts on executive bonuses at a time like this. Thousands of pilots and other staff have sacrificed their own take home pay significantly to help the airline and save jobs. Earlier this year 1,500 pilots voluntarily agreed to take part time work in order to stop 727 of their colleagues being made redundant in a show of extraordinary community spirit.
BALPA recognises that there are questions about whether executive bonus schemes are acceptable at a time when so many of the airline’s staff remain on part time work and when the industry is so fragile and calls on shareholders to challenge the airline to be upfront about its bonus plan at the AGM.