The Dallas Morning News Airline Biz Blog has THIS story on Continentals’ new CEO, Jeff Smisek, deciding to give up his salary (and other bonus compensation) until Continental earns a full year profit.  Smisek is not asking anyone else to give up their salary but is doing this as a good faith investment turning Continental around and setting an example for its employees.

While some are already calling this window dressing since Continental is set to earn some kind of profit in 2010, I think that is a very cynical viewpoint.  Smisek is setting an excellent example for Continental employees and continuing a kind of tradition in that area that dates back to Gordon Bethune’s tenure as CEO.  In addition, he *is* going to give up that compensation, at the least, for probably 12 months and that is probably compensation worth in excess of $1 million.  No one does that as just a stunt.  Particularly when other airline CEOs are likely going to be earning well in excess of that for the next year.

Filed under: Airline News by ajax