Air Transport World

Continental Airlines.(North America Report)(Brief Article)

Continental Airlines said that members of its board of directors agreed to cut their retainer and base meeting fees by 30% and forego their entire 2005 stock option grant in light of the company's continuing losses and the sacrifices it is seeking from employees. Additionally, the carrier said it adjusted its annual incentive program for management employees and that officers will forego their restricted stock units for 2005. The airline also said that when targets are set for 2006 and beyond, they will be structured so that no annual incentive is paid as a result of the pay and benefit reductions. …

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