US Air CEO Parker gets 3-year contract extension

WASHINGTON, Nov 29 (Reuters) - US Airways Group Inc (LCC.N) Chief Executive Doug Parker has received a three-year contract extension through 2011 with no change to his salary, the airline said on Thursday.

Parker, who oversaw the merger of the old US Airways and America West Airlines in 2005, will earn $550,000 in base salary. Terms for cash bonuses and incentive payments have not changed.

In 2006, Parker received $880,000 cash bonus and a long-term incentive payment of $869,000, also in cash. He received other equity awards as well, the airline said.

US Airways shares lost 91 cents, or 4.3 percent, on Thursday to close at $20.06 on the New York exchange. The company's shares have tumbled more than 60 percent so far this this year. (Editing by Carol Bishopric)