Bumper pay packet for Easyjet boss

Easyjet boss Carolyn McCall received pay and bonuses worth £7.7m despite deteriorating levels of customer satisfaction and punctuality, the airline’s annual report revealed today.

Ms McCall oversaw a fourth year in a row of record financial results as pre-tax profits soared 21.5% to £581m for the year to the end of September.

But the increase was not quite as stellar as the 50.9% rise achieved the year before, meaning the annual bonus element of pay was lower.

This was also hit by on-time performance being slightly worse – with 85% of arrivals within 15 minutes compared to 87.4% a year before – as well as customer satisfaction – down from 82.7% to 78%.

But the budget carrier did better at keeping a lid on costs this time after it was hit by adverse weather conditions in the previous financial year.

Ms McCall received £677,000 in salary, up from £665,000 a year before, plus pension and benefits worth £52,000. Her annual bonus was worth £1.03m, down from £1.15m.

Her total pay package also included a long-term bonus share award worth £5.92m due to vest in January.

The report also showed that the chief executive’s total pay package for last year was £7.8m, higher than the £6.4m reported at the time.

This was because last year’s sum included a share award that vested in 2014 with the share price higher than it was when the figures were published.

In addition to this year’s £7.7m total for Ms McCall, she was granted long-term performance-linked share awards worth up to nearly £2m – to be paid out following the end of the 2015/16 financial year.