AirTran Airways' chief executive Bob Fornaro saw his pay package grow to $2 million last year, including a $785,000 bonus.
That's up from $1.5 million in total compensation in 2008, when Fornaro got a $375,000 bonus.
Along with the bonus, Fornaro's 2009 pay package included a $525,000 salary, $543,380 in stock awards and $146,973 in other compensation.
AirTran reported a 2009 profit of $134.7 million, after losing $266.3 million in 2008.
Orlando-based AirTran has its largest hub in Atlanta. Fifty percent of the company's bonus for executive officers is based on profitability, 20 percent on cost control and 30 percent on individual performance goals.
Amid declining demand for travel, the airline in 2008 significantly slowed its growth plans for the future and has been growing in other cities to diversify beyond its Atlanta hub. This year, AirTran plans to increase its flight capacity by 3 to 4 percent. Fornaro has said he believes the company will be profitable this year.
Meanwhile, the pilots union at AirTran has been in contract negotiations for about six years, so pilot pay scales have not increased in five years, and the Air Line Pilots Association at AirTran is taking a more aggressive approach to the talks.
In response to the executive compensation figures, AirTran pilots union spokesman Jim Morris said, "The pilots look forward to sharing in the company's success and we also look forward to seeing their proposals for compensation in the upcoming negotiation."
The executive compensation figures were part of a proxy filed by AirTran to the U.S. Securities and Exchange Commission in advance of the company's shareholders meeting May 18 in Milwaukee, where it has expanded its service.
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