Too little too late.. What they should do is to knock on Rajesh's and Steve's doors and ask their money back.. BAHA Fan of US surviving these stormy days.. -----Original Message----- From: The Airline List [mailto:AIRLINE@LISTSERV.CUNY.EDU]On Behalf Of lafrance@verizon.net Sent: Thursday, August 01, 2002 7:18 PM To: AIRLINE@LISTSERV.CUNY.EDU Subject: US Airways executives, officers to take pay cuts US Airways executives, officers to take pay cuts Thursday August 1, 6:55 PM EDT NEW YORK, Aug 1 (Reuters) - Officers and other nonunion workers at US Airways Group Inc. (U), including the airline's Chief Executive David Siegel, have agreed to a $30 million share of the wage cuts and other concessions Siegel requested from the struggling airline's employees. US Airways' vice presidents will give up 13.5 percent of their pay each year for six and a half years, while senior officers and executives will sacrifice 17 percent of their income and Siegel will take a 20 percent cut. Other non-union employees will take pay cuts that average from around 2.5 percent to 11.7 percent per division, Siegel told the airline's employees in a taped message. "While painful for us all, these reductions are a necessary component if we hope to secure the $1 billion loan guarantee and successfully restructure the company," Siegel said. US Airways recently won approval for federal backing of 90 percent of a billion-dollar loan, on the condition that it secures more concessions from its labor groups. The cuts in wages, benefits and other concessions add US Airways' non-union workers and executives to the group of employees who have agreed to slash costs to help the carrier avoid bankruptcy. US Airways' pilots, flight attendants and other workers have tentatively agreed to 85 percent of the concessions the airline requested when it announced its plan to slash $1.3 billion in costs each year. US Airways asked for $950 million in concessions from its workers. Siegel said employees who would have qualified for incentive-based bonuses based on this year's performance will not receive the extra cash. Officers' compensation -- including the lack of bonuses -- will drop 45 percent on average. Roger EWROPS