Former UAL Chief Got $5.4-Million Severance

UAL Corp., the owner of United Airlines, paid departed Chief Executive James Goodwin a $5.4-million severance last year after he quit under pressure from the airline’s biggest union.

Chicago-based UAL was required under contract to pay Goodwin three times his annual salary plus bonus, according to a proxy filing with the U.S. Securities and Exchange Commission.

The severance is “outrageous” in light of job cuts at United, said Frank Larkin, a spokesman for its Machinists union.

A spokesman for UAL wasn’t immediately available for comment.

Shares rose 26 cents to $15.90 on the NYSE.