Despite a challenging year for JetBlue Airways in 2023, the airline’s general counsel, Brandon Nelson, saw his total compensation rise to a remarkable $4.9 million – a substantial 399% increase from the $1 million he received the previous year.
Nelson, along with the four other senior executives at the Long Island City, New York-based airline, experienced significant pay increases largely due to retention awards distributed during the bleak days of the pandemic. Additionally, transaction-incentive awards post JetBlue’s agreement in July 2022 to acquire Spirit Airlines for $3.8 billion also notably contributed to their elevated salaries.
According to the company’s newly filed proxy statement, Nelson’s compensation in 2023 was higher than the total he received from 2019 through 2022.
These dramatic increases in executive salary occurred even as JetBlue Airways confronted significant business challenges, including a global pandemic and its subsequent economic impact, reflected in the airline’s struggling stock performance in 2023.