Phoenix-based Mesa Air Group has asked its employees to accept a voluntary 5-percent pay cut for one year in return for an incentive program tied to quarterly profits. The appeal coincided with 20-percent salary reductions for chairman and CEO Jonathan Ornstein, president Mike Lotz and executive vice president Peter Murnane. According to SEC filings, the three top executives’ base pay equals $200,000, $175,000 and $150,000, respectively.
The National Air Transportation Association provides an annual salary survey for business aviation professionals including pilots, line-service personnel, maintenance technicians, inspectors, dispatchers, customer service representatives and stock clerks.
More detailed reporting of top executive compensation, including such perquisites as personal use of corporate aircraft, is the aim of new proposals from the Securities and Exchange Commission (SEC). One of the proposals would lower the threshold at which perks must be disclosed. Companies currently must reveal perks if the total aggregate value is more than $50,000, or 10 percent of total annual salary and bonus.