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American Airlines CEO's salary set at $700,000

4:15 PM, Jan 27, 2014   |    comments
An American Airlines logo is seen behind a ticket counter at Chicago's O'Hare airport on August 13, 2013. The US Justice Department and several states sued Tuesday to block the $11 billion merger between American Airlines and US Airways, saying it would reduce competition and push up fares. AFP PHOTO / Mira OBERMAN (Photo credit should read MIRA OBERMAN/AFP/Getty Images)
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DALLAS (AP) - The CEO of the new American Airlines says he will get a salary of $700,000 this year and could get a bonus of twice that if the company is highly profitable.

But Doug Parker says the majority of his compensation will come in the form of a stock award that hasn't been determined yet.

Parker told employees Monday that his compensation would be less than that paid to CEOs at United Airlines and Delta Air Lines, which are roughly the same size as American after its merger with US Airways. He said that he requested the lower payout because union employees at the company are paid less than counterparts at those airlines.

(Copyright 2014 by The Associated Press. All Rights Reserved.)

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