EasyJet CEO Pay Almost Doubles as Discount Carrier Goes Premium

EasyJet Plc (EZJ) Chief Executive Officer Carolyn McCall, who presided over an 84 percent share gain in 2013, almost doubled her compensation this year as her strategy of moving the carrier toward higher-paying customers paid off.

Total renumeration for 2013 was 6.4 million pounds ($10.5 million), including a base salary of 665,000 pounds, and bonus and long-term incentive payments of 5.7 million pounds, the Luton, England-based company said in its annual report today. The executive earned 3.69 million pounds in 2012.

Under McCall, a former media executive, the airline has intensified efforts to win business passengers with allocated seats, flexible tickets, fast-tracking and higher frequencies to key destinations. McCall also spearheaded a major fleet expansion with the purchase of new Airbus A320-type aircraft, an investment that faced opposition from Stelios Haji-Ioannou, the airline’s founder and largest shareholder.

“A nice job if you can get the other directors to vote for it,” Stelios, who goes by his first name, said in an e-mailed statement. “Yet another case of city insiders enriching themselves without taking any risk.”

EasyJet’s AGM is scheduled for Feb. 13.

To contact the reporter on this story: Kari Lundgren in London at klundgren2@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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