WIZZ AIR is facing yet another shareholder row over plans to pay out millions to top executives without performance criteria.

The budget airline business has previously faced trouble over executive pay, after plans to pay the company's boss József Váradi a £100m bonus last year kicked up turbulence.

A quarter of Wizz Air's shareholders voted against the CEO's pay at its annual general meeting in 2023 after he was given two more years to hit targets.

Now, Wizz Air is attempting to maintain around 15 other senior staff members by promising £15m in bonuses if they stay at the company until 2028.

The company detailed the plans in its latest annual report, which will see a "oneoff" award to top executives.

However, shareholders have been willing to take a stand against bonuses they see as too large in previous years.

In 2020, shareholders voted down Váradi's executive pay plans for the year, where he was set to receive a £485,000 bonus despite missing profit targets.

Speaking to City A.M. last month, Váradi argued that "everyone benefits" from the pay packets going to senior leadership.

(c) 2024 City A.M., source Newspaper