Airline CEO takes pay cut to support gender equality

New easyJet boss asks for salary cut ahead of gender pay transparency rules

easyJet chief executive Johan Lundgren is to voluntarily reduce his salary to match that of his predecessor, Carolyn McCall.

Lundgren came in at the end of 2017 as the top exec at the budge airline based in the United Kingdom with a salary of $1.04 million in USA currency equivalent, while his outgoing counterpart, Carolyn McCall, was making approximately the equivalent of $990,730 when she left the company after eight years of service.

EasyJet, the Luton, England-based carrier, had set Lundgren's starting salary at approximately $1.04 million; a raise of almost $48,000.

EasyJet revealed late previous year that it had a gender pay gap of 52 percent.

Lundgren started as the chief executive of the United Kingdom-based budget airline at the end of 2017 with a salary of £740,000 ($1.04 million). In all other respects (bonus, LTIP etc.) his remuneration package is identical to Carolyn's. Out of the 704 employers who had shared pay figures so far, easyJet had the third-largest mean gender pay gap. EasyJet has already gone further than other airlines in trying to attract more women into a career as a pilot.

Earlier this month, EasyJet announced revenues jumped more than 14 percent in its first quarter, profiting in part from the collapse of rivals and massive flight cancelations at Ryanair, largely owing to a pilots shortage.

But the company said: "We recognize we need to do better".

The company blamed the imbalance on the higher salaries paid to its mostly male pilots. That is why three years ago easyJet launched our Amy Johnson Initiative to encourage more women to enter the pilot profession. EasyJet has set itself a target that a fifth of all new pilots recruited should be female by 2020, up from 6% in 2015 and 13% now.

A year ago they recruited 49 - 13 percent of the total hired. The carrier's pilots are 94 percent male, the airline added.

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