Airlines are making big profits, and CEOs are cashing in.

Delta Air Lines Inc. disclosed Thursday that CEO Richard Anderson got a 22 percent increase in compensation last year, to nearly $17.6 million.

That put Anderson ahead of the CEOs of American and United, which are bigger airlines by passenger traffic and capacity. He’s also more highly paid than the chief executive of Southwest, who was recently touted by Fortune magazine as the most underrated for any industry.

As is typical for top executives now, Anderson received most of his compensation in stock awards – they were valued at nearly $9.6 million when granted. He also got options valued at $3.8 million, $3.1 million in incentives, a $790,625 salary and nearly $300,000 in perks, according to a filing with the Securities and Exchange Commission.

Atlanta-based Delta reported net income of $659 million last year, although that included write-downs of fuel-hedging contracts. Without those and other special items, the airline would have earned $2.8 billion.

Shareholders saw their stock rise in value by 79 percent – slightly more than United’s shares but far behind the appreciation for American and Southwest shareholders.

Anderson was more richly compensated that American Airlines CEO Doug Parker, $12.3 million; United Airlines CEO Jeff Smisek, $11.3 million; and Southwest Airlines CEO Gary Kelly, $5 million.


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