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Daily Mirror
Daily Mirror
Business
Graham Hiscott

EasyJet boss could could pocket £1.8m after 1,000 jobs axed amid Covid pandemic

EasyJet's boss could pocket a £1.8million bonus – after axing more than 1,000 jobs.

Johan Lundgren, 54, could scoop more than 214,369 shares.

He is one of eight bigwigs in line for a total of £6million in a “long-term incentive plan”.

The budget airline has recently shed around 1,300 staff in the UK amid the pandemic slump in trade.

It took a £600m government loan early last year. The board took a 20% cut for three months but are now back on full pay.

The bonus sparked fury from employees of Mr Lundren, who is paid £740,000 a year.

More than 1,000 jobs have been cut at the budget airline (PA)

One cabin crew worker said: “Rather than plan to pay these taxpayer loans back to help fund the NHS they are instead planning on giving themselves millions.”

The share awards were granted ahead of a bonus scheme for 2021.

The 214,369 earmarked for Mr Lundgren were worth £1.8million on December 29, the day they were granted, but the final value would depend on the firm’s share price between now and 2023.

An insider said there was no guarantee the criteria for triggering the windfall would be met.

An easyJet spokesperson said: “These awards will only be paid in three years’ time if the stretching performance targets are met.

“This is part of an overall shareholder approved remuneration policy we are putting in place to aid the recovery and future success of the airline for all employees.”

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