United Airlines CEO and President Taking Pay Cuts to Help Carrier

United Airlines announced its CEO and President will forgo their base salaries at least through June 30.

According to The Independent, United Chief Executive Officer Oscar Munoz and president Scott Kirby—who is scheduled to take over as CEO in May— revealed Tuesday the decision was made after a steep decline in bookings.

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The airline announced last week it would reduce its international schedule by 20 percent and slash domestic and Canadian flights by 10 percent next month. Officials mentioned similar cuts were expected in May.

In addition, United mentioned new hiring initiatives would be suspended through the end of June and raises for all employees originally scheduled to take effect April 1 would be postponed until July 1.

The airline also waived change fees on bookings made through March 31.

United isn’t the only carrier with executives overhauling salaries to help the brand, as Southwest Airlines CEO Gary Kelly said he would take a 10-percent pay cut amid an "alarming" drop in bookings caused by the spread of coronavirus.

"The velocity and the severity of the decline is breathtaking," Kelly told employees in a video message. "There is no question this is a severe recession for our industry and for us, and it’s a financial crisis."

Southwest also announced enhanced cleaning procedures for its fleet of planes, including the use of an EPA-approved, hospital-grade disinfectant utilized by the carrier’s aircraft appearance technicians to sanitize the passenger cabin, lavatories and flight deck.

In addition, check out TravelPulse’s look at how U.S. airlines are responding to coronavirus.