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EasyJet defends McCall’s £7.7m remuneration package

EasyJet has defended the almost £7.7 million in pay and bonuses received by chief executive Carolyn McCall for 2014.


The remuneration package is a slight fall on her near £7.8 million pay last year.


The airline’s annual report said that McCall, who has led easyJet since July 2010, received a smaller annual bonus for 2014, of £1.034 million compared to £1.153 million.


This was due to a slight dip in punctuality and customer satisfaction as a result of factors such as the chaos at Gatwick last Christmas Eve, which left some passengers at the airport stranded for up to 12 hours.


EasyJet made a pre-tax profit of £581 million in the 12 months to September 30, up 21% on the previous year, while revenue jumped 6.3% to £4.5 billion.


The airline has in the past come under criticism from its founder and largest shareholder, Sir Stelios Haji-Ioannou, over executive remuneration.


A spokesman for Sir Stelios told the Telegraph he would make his view knowns at easyJet’s annual meeting in February.


But a spokesman for the budget carrier told the newspaper: “EasyJet’s remuneration for directors is heavily weighted towards variable pay, dependent on performance.


“This ensures that there is a clear link between the value created for shareholders and the amount paid to directors.


“Carolyn McCall’s remuneration reflects easyJet’s record profits, returns and share price rise.”

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