Loss-making IAG freezes boss Walsh’s salary

Marion Dakers
WILLIE Walsh, the boss of British Airways parent IAG, saw his pay packet shrink last year after the firm’s troubled Spanish unit Iberia wiped out profits.

Walsh, who took the top job when BA and Iberia merged in 2011, was paid a total of £1.083m, down from £1.298m the previous year. His salary was flat at £825,000, the firm’s annual report shows.

The company paid him no cash incentive for 2012 – an award whose amount is based on group operating profits and goals linked to cost cutting and strategy. Keith Williams, the boss of British Airways, earned £1.362m including a £244,000 bonus.