US Airways CEO Gets 44 Percent Hike In Compensation

TEMPE, Ariz. (AP) – The CEO of US Airways received a 44 percent increase in compensation to $5.5 million last year.

US Airways disclosed CEO Doug Parker’s compensation in a regulatory filing Monday that also served as a prospectus for the company’s proposed merger with American Airlines.

The merger will make Parker the CEO of the world’s biggest airline.

Parker’s 2012 salary was $550,000, and he got stock and option awards valued totaling $2.7 million, a cash incentive of $2.2 million.

In a note to employees, Parker says his pay is based on compensation for CEOs of other airlines and similarly sized companies and is tied to US Airways’ performance and stock price.

The Associated Press’ calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.