Bankrupt Parent Firm of Flight 3407 Pays Huge Bonuses [VIDEO]
Adding insult to injury for the families of flight 3407 crash victims the company somehow found the money to approve hundreds of thousands of dollars in pay raises for top executives weeks before their April 1st Bankruptcy filing.
“My immediate reaction that came to mind is it’s obscene,” stated John Krausner, who lost his daughter in the crash.
WKBW reports that despite filing for bankruptcy outgoing CEO Philip Trenary received a whopping $1.7 million severance check. The current CEO got a $250,000 pay raise, and COO John Spanjers received a salary increase of $125,000.
In stark contrast, the first officer of flight 3407 was paid an annual salary of $16,000.
Pinnacle is one of several companies being sued by families of flight 3407 crash victims. Twenty-four of the original 47 lawsuits filed against Pinnacle, Colgan Air and Continental remain unresolved.