Southwest CEO Bonus Rose Even as Airline Pledged to Cut Incentive Pay
- Carrier had vowed to lower short-term incentive payments
- Spokesman says CEO, COO saw gains linked to promotions
Southwest Airlines Co., which promised to cut bonus payments after a late-December meltdown in flight operations, boosted short-term incentive pay for its chief executive officer and chief operations officer.
CEO Bob Jordan’s bonus for 2022 rose 89% to $195,720, according to a Thursday regulatory filing by the Dallas-based airline. He received more than $5.3 million in total compensation last year, up from about $3 million in 2021 when he served as executive vice president. Chief Operating Officer Andrew Watterson also received a higher bonus, but lower total compensation. The bonus hikes come after the airline in February pledged a hair cut in incentive pay for senior management after holiday chaos that affected more than 2 million travelers.