Bonuses see Jet2 chief executive’s pay take off

The chief executive of Dart Group-owned travel company Jet2 Steve Heapy has received nearly £1m in annual pay last year after performance-based bonuses.

Heapy reportedly hit performance targets for the year, which saw passenger numbers rise to 7.1m, up from 6.07m the year before, and triggered long-term incentive payments – which have been controversial for a number of other companies both in the region and in the UK including Asos and Morrisons.

In the year to March 2017, the chief executive of Jet2 received nearly £1m, earning a salary of £944,000, with bonuses up £127,000 to a total of £435,000, according to The Telegraph.

Dart Group revenues from the Jet2 businesses and logistics company Fowler Welch, grew 23% to £1.7bn for the year to 31 March 2017, from £1.4bn the year before.

The group, which has two bonus schemes for the executive, saw pre-tax profits decline 14% to £90.1m from £104.2m for the year to March 2017.

Jet2 invested heavily into two bases at London Stansted and Birmingham Airports.