Phoenix-based Mesa Air is asking its 3,000 employees to voluntarily take a five percent pay cut for one year.
Employees would get the money back plus a five percent bonus for every quarter Mesa Air records an operating profit. Meanwhile, the top three executives of the regional airline will take a 20% pay cut.
Mesa Air operates in Denver and Colorado Springs.
The company made similar wage cuts after the 9/11 terrorist attacks. And employees were paid bonuses in each of the four quarters that followed.