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Low Cost Airline = High Salary for CEO


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You have to question the numbers, did the salaries for the staff also go up?

Low-cost airline boss sees pay soar as Jet2 passenger numbers take off

107189653_jet2-plane-NEWS_trans_NvBQzQNjv4Bq3Fh5VY2Bz-juTe8P68vP6stl4wH-QVoA1_nWU5B-emI.jpg?imwidth=450 Low-cost airline Jet2's strong performance led to a hike in pay for its boss Stephen Heapy
 

15 August 2017 • 3:38pm

The boss of low-cost airline Jet2 has seen his pay rise by a quarter on the back of a jump in bonus payments.

Stephen Heapy’s pay reached £944,000 in the year to the end of March after successfully hitting various performance targets that triggered long-term incentive payments.

Under the company’s two separate bonus schemes, Mr Heapy earned £435,000 this financial year compared to £308,000 the prior year.

His salary also rose 14pc to £433,000. His total pay includes pension payments and benefits, such as a fuel allowance.

In its last financial year, Jet2 saw passenger numbers rise 17pc to 7.1m, helping push revenue up by 24pc to £1.56bn.

Mr Heapy, who joined Jet2’s parent company Dart Group in 2009, previously worked at rivals including Thomas Cook.

London-listed Dart Group also owns the distribution company Folwer Welch, where sales rose 14pc to £163.5m primarily due to a new Dairy Crest operation at Nuneaton, which commenced in June 2016.

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