Los Angeles Times

Ex- United CEO gets $ 37 million

- By Hugo Martin hugo. martin@ latimes. com

Jeff Smisek’s severance package includes a car, free f lights and lifetime parking privileges at two major airports.

Despite resigning amid a federal corruption investigat­ion, the former chief executive of United Airlines is receiving nearly $ 37 million in compensati­on, including a car, free f lights and lifetime parking privileges at two major airports.

The payouts to former United Continenta­l Holdings Inc. CEO Jeff Smisek were described in a filing by the airline to the Securities and Exchange Commission last week.

Smisek is receiving a lump cash payment of nearly $ 5 million, which includes payments for unused vacation days. The rest of his “separation agreement” includes bonuses for meeting company performanc­e goals, plus healthcare and life insurance payments.

Smisek also receives “f light benefits,” valued at about $ 82,000, plus lifetime parking at United Airlines hubs in Houston and Chicago. He can also keep his company car, valued at $ 58,700, the filing said.

Smisek and two other United employees stepped down in September in the face of a federal investigat­ion into allegation­s that the airline was trading favors with the head of the Port Authority of New York and New Jersey

United was accused of operating a money- losing f light to the airport nearest the weekend home of the port authority’s chairman in exchange for improvemen­ts the carrier wanted at Newark Liberty Internatio­nal Airport. Oscar Munoz replaced Smisek as CEO. A United Airlines spokespers­on could not be reached to comment on the filing.

In other SEC filings, Southwest Airlines Co. reported that its chief executive, Gary Kelly, received compensati­on of $ 5.9 million in 2015, while American Airlines Group Inc. reported that Chairman and CEO Douglas Parker was paid $ 11.4 million in 2015.

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