Paris — Air France-KLM’s new boss said on Monday that he would invest half of his fixed salary into the company’s stock as a gauge of his "confidence" in returning the strike-prone airline to a more solid footing. Benjamin Smith made the pledge in a video message to staff as he officially took up his new position as CEO at the French-Dutch airline. His fixed salary is €900,000 ($1m) a year, but his total compensation can reach as high as €4.25m if performance targets are met. The pay package was criticised by unions, as it is more than three times the amount paid to his French predecessor, who quit in May after gambling his job on getting staff to accept a pay deal that was rejected in a company-wide vote. "I have already made a personal investment by moving with my family to France," Smith says in the video, according to a French transcript obtained by AFP. "Today I have decided to make another investment by investing half my fixed salary in Air France-KLM’s share capital." "It’s a...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.