FORT WORTH, Texas -- The board of directors of AMR Corp., which owns American Airlines, voted to approve a 20 percent pay raise for Gerard Arpey.
Arpey, the company's chairman and chief executive officer, turned down the offer, however.
The raise would have added $110,000 to Arpey's annual salary. He said accepting the increase would send "the wrong message" to the company's rank-and-file employees.
American Airlines' 80,000 workers collectively have forfeited about $2 billion in annual salaries and benefits to help keep the struggling carrier in business.
posted by Chris O. @ 7/29/2004 11:44:00 PM
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