DALLAS — Southwest Airlines CEO Robert Jordan’s compensation nearly doubled last year to $5.3 million after being promoted to the top job during a year that ended with massive flight cancellations that will cost Southwest more than $1 billion.

Southwest disclosed in a proxy filed Thursday that the estimated value of Jordan’s compensation rose from $3 million in 2021, when he was executive vice president of the Dallas-based airline.

In 2022, Jordan received stock awards valued at $3.6 million, $676,875 in salary, a cash bonus and incentive compensation together worth $978,600, plus retirement-plan benefits. The eventual value of the stock awards will depend on the company’s financial performance from 2022 through 2024.

A winter storm just before Christmas caused chaos across the airline industry, but Southwest took longer to recover than any of its rivals, as a crew-scheduling system was unable to keep up. The airline wound up canceling 16,700 flights in late December. The airline said the breakdown cost it about $800 million in lost revenue in the fourth quarter and up to $350 million more early this year.

The Southwest board said in the proxy that it made no adjustment to incentives for executives because of the December cancellations , which it said reduced customer-satisfaction scores and the airline's bottom line. Still, the board pointed out, the company posted record revenue of $23.8 billion and remained the only U.S. airline with investment-grade credit ratings from the three leading ratings agencies.

Southwest earned $539 million last year despite a $220 million loss for the fourth quarter.

Jordan has apologized several times for the holiday meltdown, and the airline has announced steps to avoid a repeat, including adding more deicing equipment and staff at key airports and improving its crew-scheduling technology.