Finance minister to object to KLM CEO’s bonus amid staff pay restrictions
The Dutch state intends to challenge the high pay awarded to KLM’s executives, focusing especially on the raise received last year by CEO Marjan Rintel. Finance Minister Eelco Heinen described the bonus and extra pay as “inappropriate,” particularly as KLM is requesting employees to accept wage moderation and cost-cutting measures, RTL has reported.
The state is submitting this objection in its capacity as a shareholder of the Air France–KLM group. Although the Netherlands owns only a minority stake, it can raise concerns about executive pay during the shareholders’ meeting.
KLM’s 2025 annual report shows that Rintel’s total compensation was more than 30% higher than the previous year, almost entirely due to variable pay and bonuses; her fixed base salary remained around 600,000 euros. The total amount came to nearly 1.6 million euros.
KLM states that much of the nearly 32% rise in CEO Marjan Rintel’s pay comes from increases in her short-term and long-term bonuses, largely driven by the rising value of phantom shares tied to the group’s performance, a trend connected to Air France–KLM’s stronger stock price.
The bonus increase faced widespread criticism, especially since many KLM employees were making wage concessions or experiencing reorganizations and budget cuts at the same time.
In public comments, Minister Heinen said such bonuses “send the wrong message” and are “inappropriate when employees are being asked to make sacrifices.” He intends to raise the issue formally at the shareholders’ meeting, where the compensation policy for executives and its approval are included on the agenda.
The Dutch state holds roughly 9% of Air France–KLM’s shares. While Minister Heinen has limited formal voting influence, he plans to use the shareholders’ meeting to deliver a “clear message” opposing the compensation policy.
