Warwick, R.I. – The Rhode Island Airport Corporation (RIAC) board approved a three‑year contract for CEO Iftikhar Ahmad that raises his total annual compensation to $2,185,834, more than double his previous pay. The agreement, effective retroactively to Oct. 13, marks Ahmad’s 10th anniversary leading the state’s airport system, which includes T.F. Green International and several regional airports.
Compensation details
Under the new contract, Ahmad’s base salary climbs to $687,760. He is eligible for a maximum performance bonus of 20 % of his salary, or $137,552, and receives an additional $212,585 intended to fund an annuity for post‑retirement support. A separate retirement payment of $55,020, noted by RIAC spokesperson Bill Fischer, is not part of the contract.
The most significant portion of the package is a “retention compensation” component. Ahmad will receive $546,459 every six months he remains in his role, totaling $1,092,918 per year. Combined with the other elements, the total annual pay reaches $2,185,834.
Board rationale
Board Chairman Jonathan Savage praised Ahmad’s “steadfast dedication and commitment to the State of Rhode Island,” noting that he has “elevated every aspect of the airport” and driven a “fundamental financial turnaround.” The board cited an independent study that benchmarks compensation for airport executives and argued the package is necessary to retain proven leadership during ongoing transformation projects at T.F. Green.
The resolution highlighted several achievements: expansion of the air‑service network, significant passenger‑growth metrics, and national recognitions such as being named the No. 1 Domestic Airport in the Travel + Leisure World’s Best Awards readers’ survey for 2025 and 2026.
Comparison and context
For perspective, the CEO of Massport, which operates Boston’s Logan Airport, recently earned $481,000 with a 10 % bonus—substantially less than Ahmad’s new package. RIAC’s own study indicates that no leader of a small‑sized airport (the category in which T.F. Green falls) receives more than $920,000 in compensation, with most earning well below that figure. Only leaders of two medium‑sized airports earn just over $1 million.
RIAC also noted that while many airports provide a defined pension for their CEOs, the corporation does not offer such a benefit, making the retention compensation a critical component of the overall package.
Additional benefits
Beyond salary, Ahmad’s contract includes 28 vacation days (with the option to cash out up to two unused weeks), eight personal days, and 24 sick days that can carry over annually without limit. He may also take up to 12 paid weeks off per year. A company vehicle with maintenance is provided for unlimited use.
The board emphasized that continuity of leadership is essential as the airport undergoes major renovation and expansion initiatives. Disruption, they warned, could pose “meaningful institutional and execution risk” during this critical period.
Public reaction
Critics have pointed to the size of the raise, arguing that airport revenues should be used prudently. However, RIAC officials maintain that the compensation aligns with industry standards and reflects Ahmad’s proven track record of growth and operational improvement.
The contract will remain in effect for three years, with the retention component contingent on Ahmad’s continued service throughout that period.
Original reporting: NBC 10 WJAR (Sinclair) – local — read the source article.
