Delta's Mullin takes 9-11 pay cut

ATLANTA - Delta Air Lines chief executive Leo Mullin's voluntary post-Sept. 11 pay cut resulted in an income drop of 72 percent in 2001, to $596,250 from $2.145 million in 2000.

Mullin's salary was set at $795,000 for 2001, so his voluntary cut amounted to almost $200,000. In 2000, he earned $745,833, according to the airline's proxy statement filed Monday with the Securities and Exchange Commission.

His compensation was also reduced by foregoing a cash bonus in 2001. He had a bonus of $1.4 million the previous year.

Mullin gave up his salary for the last three months of the year as Delta struggled to recover from the economic downturn that followed Sept. 11.

Mullin did get common stock in 2001 worth $1.57 million, based on the value at the time of the award, as part of the company's long-term incentive plan.

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