Northwest Airlines CEO defends pay as company leaves bankruptcy

MINNEAPOLIS (AP) Northwest Airlines C-E-O Doug Steenland is defending his own pay as the company comes out of bankruptcy.

Steenland's pay has been a sore spot with some Northwest workers. He was set to get almost 27 (m) million dollars in equity, including stock options that would vest in future years.

Steenland says his pay before today was the lowest of other major airline C-E-Os except for one. He says his pay was set by the board and he wasn't involved, but says he's not willing to speculate over whether he might refuse his equity awards if the issue becomes inflammatory with workers.

As it officially came out of bankruptcy today, the Eagan-based carrier released plans to update its fleet over the next two years.

It will become the first North American airline to take Boeing's new 7-8-7 "Dreamliner."


(Copyright 2007 by The Associated Press. All Rights Reserved.) APNP 05-31-07 1816CDT | save this article / add to your favorites list