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Current as of 22/10/14 03:20PM NZST

Grant Bradley

Aviation, tourism and energy writer for the Business Herald

Fyfe's final package almost $8m

Former Air New Zealand chief executive Rob Fyfe. Photo /  Natalie Slade
Former Air New Zealand chief executive Rob Fyfe. Photo / Natalie Slade

Former Air New Zealand chief executive Rob Fyfe was paid a total package of up to $7.96 million during his final year at the airline.

The annual report shows the package included $5.1 million of options exercised under his long-term incentive plan.

The options were accumulated between 2008 and 2012 and calculated as 80 per cent of salary over a five-year period. Fyfe - who has gone on to directorships for other companies - was paid a base salary of $715,500 for his final six months at the airline.

His successor, Christopher Luxon, earned a base salary of $625,000 in the first six months as chief executive and earned short-term incentives of $602,841 to be paid in the next financial year. Luxon also owns or has an interest in 137,980 shares as part of a long-term incentive plan.

His declared earnings place him in the $1.52 million to $1.53 million band of the employee remuneration table.

The report also shows the number of executives and management earning more than $100,000 including incentive payments climbed from 582 in 2012 to 642 in the past year.

- NZ Herald

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