In 2025, Delta Air Lines reported CEO Ed Bastian’s Summary Compensation Table total at $19,222,401; Southwest reported Bob Jordan’s total annual compensation at $16,587,882; and Alaska Air Group reported Ben Minicucci’s compensation as $9,920,374 in its CEO pay-ratio disclosure. These are company-reported measures of total compensation, not cash salaries. Delta separately disclosed Bastian’s base salary as $1,082,500.
Reported 2025 compensation at three U.S. airlines
The figures below come from company proxy disclosures covering fiscal 2025. The label matters: Delta’s and Alaska’s Summary Compensation Table totals are distinct from base salary, and Alaska’s pay-ratio disclosure uses a slightly different figure from its Summary Compensation Table reconciliation.
| Airline | CEO | Reported 2025 measure | Amount |
|---|---|---|---|
| Delta Air Lines | Ed Bastian | Summary Compensation Table total | $19,222,401 |
| Southwest Airlines | Bob Jordan | Total annual compensation in the Summary Compensation Table | $16,587,882 |
| Alaska Air Group | Ben Minicucci | CEO pay-ratio disclosure | $9,920,374 |
| Alaska Air Group | Ben Minicucci | Summary Compensation Table total, shown in pay-versus-performance reconciliation | $9,904,339 |
Within this cited group, Delta’s reported total is highest, followed by Southwest and Alaska Air Group. This is a comparison of three company disclosures, not a complete ranking of U.S. airline CEOs.
Why “salary” is not the same as reported total compensation
Base salary
Base salary is the fixed-pay component. Delta reported Bastian’s 2025 base salary as $1,082,500, substantially less than his $19,222,401 Summary Compensation Table total. Calling the latter his “salary” would blur the difference between fixed pay and the broader compensation disclosure. Delta’s 2026 proxy statement provides the figures.
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Summary Compensation Table total
The Summary Compensation Table aggregates categories required in SEC executive-compensation disclosure. Depending on the executive and year, those categories can include salary, incentive compensation, equity awards valued at grant date, and other compensation. It is a standardized reported total, but it does not mean the executive received the whole amount as cash during the year.
Target direct compensation
Target direct compensation describes compensation opportunity at target, rather than the same measure as a reported annual total. Alaska Air Group defines total direct compensation using base salary, actual short-term incentive pay, and grant-date fair value of equity awards. Its proxy says about 90% of Minicucci’s target total direct compensation was variable and tied to company performance or share price. Alaska Air Group’s proxy statement explains the company’s measure.
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American Airlines provides a useful example of why measures should not be mixed: a surfaced proxy disclosure puts Robert Isom’s 2025 target annual direct compensation at approximately $15.2 million, unchanged from 2023 and 2024. That is a target figure, not a verified Summary Compensation Table total, so it should not be ranked directly against the totals above. American’s proxy statement is the source for that target measure.
What the company pay ratios say—and do not say
Delta reported a 2025 CEO-to-median-employee annual total compensation ratio of 190 to 1: Bastian’s compensation was $19,222,401 and the median employee’s compensation was $100,976. This ratio is specific to Delta’s employee population and methodology; it is not a direct comparison with the ratio another airline might report. Delta’s proxy statement includes the pay-ratio disclosure.
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Alaska’s $9,920,374 pay-ratio disclosure and $9,904,339 Summary Compensation Table total are different figures with different disclosure labels. Keep those labels attached when citing the amounts rather than treating them as interchangeable.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why this is not a complete ranking of airline CEOs
There is no universally fixed scope for the phrase “airline CEOs in the U.S.” Southwest describes its peer comparisons using a largest-airline group of American, Delta, and United, and a smaller-carrier group of Alaska and JetBlue. That is one defensible comparison set, not a rule that defines every possible industry ranking. Southwest’s proxy statement describes those peer groups.
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United’s 2026 proxy says its 2025 compensation program was informed by the market median of a peer group focused on similarly sized U.S.-based airline peers, but the cited disclosure does not establish the CEO’s Summary Compensation Table total here. United’s proxy statement discusses its compensation program. Without comparable totals for every carrier, the three-company comparison above should not be presented as an industry-wide ranking.
For a fair comparison, pair each amount with the CEO, carrier, fiscal year, source table or disclosure, and measure. Do not compare one airline’s base salary with another’s total compensation, or treat a target opportunity as if it were a reported annual total.
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