Qantas’ ex chief executive Alan Joyce was paid Aus$21.4 million (US$14 million) in the last financial year, the airline said Wednesday, as it admitted to an “acute loss” of public trust.
The Irish-born boss took an earlier-than-expected retirement on September 5 as the Australian carrier battled criticism over high prices, mass ground staff layoffs and allegations it sold thousands of tickets for already-cancelled flights.
In its annual report, Qantas said Joyce’s “total pay outcome” for the financial year to June 30, 2023 was Aus$21.4 million.
The package included rights that Joyce had decided to convert into shares.
It did not incorporate Aus$2.2 million in short-term bonuses that had been withheld.
Qantas said some of the former airline chief’s pay could be subject to clawback “should the board determine that necessary”.
The airline said its reputation took a blow when Australia’s competition commission last month launched a Federal Court case accusing it of selling more than 8,000 tickets for flights that had already been cancelled.
“These allegations are concerning and have the board’s full attention,” group chairman Richard Goyder said.
The legal action limited any Qantas response on the details, he said.
“What we can say is that Qantas’ longstanding practice is that when a flight is cancelled, customers are offered an alternative flight or a refund.”
Qantas said it had withheld the balance of the last financial year’s short-term bonuses from its senior executives “while this matter progresses”.
On a separate matter, Australia’s High Court last week found Qantas had illegally sacked 1,700 ground staff during the Covid-19 lockdown period, opening the door to negotiations with the unions on hefty compensation and penalties.
