Business

Compensation for Alaska Air boss doubles

The chairman and chief executive officer of Sea-Tac-based Alaska Air Group Inc., William Ayer, saw his total compensation in 2009 more than double to $4.3 million, compared with the year before, thanks to a bigger performance-based bonus and much larger stock and option awards, according to a regulatory filing.

According to an analysis of the filing late Friday with the Securities and Exchange Commission, Ayer, 55, received a salary of $373,846, a performance-based bonus of $621,585 and other compensation of $78,424.

Ayer also received stock and option awards the company valued at $3,224,953 on the day they were granted.

The total compensation of $4,298,808 compared to the $1,581,007 he received the year before.

Alaska Air Group reported full-year 2009 net income of $121.6 million, or $3.36 a share, compared to a net loss of $135.9 million, or $3.74 a share, in 2008. Twelve-month revenue fell to $3.40 billion from $3.66 billion in 2008.

Its annual meeting of stockholders is set for May 18 in Seattle.

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