Qantas boss Alan Joyce gets $ 287k pay raise despite airline troubles

Qantas boss Alan Joyce gets $ 287k pay raise despite airline troubles

Qantas boss Alan Joyce gets $ 287k pay raise despite airline troubles

<span>Photo: Dean Lewins / AAP</span>“src =”–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU3Ng–/ -~B/aD02MDA7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/″ data-src=”–/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU3Ng – / https: //–~B/aD02MDA7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https: //></div>
<p><figcaption class=Director of photography: Dean Lewins / AAP

Qantas CEO Alan Joyce’s salary has increased by $ 287,000 in the past year due to delays, cancellations and other issues that have plagued the airline and damaged its reputation, the airline’s annual report reveals.

Her total paycheck value went from $ 5,288,000 in 2021 to $ 5,575,000 this year, mainly because Joyce’s base pay returned to its pre-pandemic level of just over $ 2.1 million after that. two years in which he voluntarily took a cut due to the Covid-19 pandemic, which grounded the airline’s fleet of planes.

However, Joyce did not receive a bonus this year, as the scheme has been suspended and will not return until next year.

Related: Complaints from Qantas customers are under investigation as ACCC says the airline is not “realistic” about the flights it could serve

The report, filed with the stock exchange on Friday, also shows that the Qantas board of directors has decided to modify the compensation packages of Joyce and other senior executives so that short-term bonuses better reflect the company’s customer service and reputation. aerial.

Qantas needs to “do more to deliver the service our customers have come to expect,” said the chairman of the board’s remuneration committee, Jacqueline Hey, in the report.

He said the new bonus scheme “will prioritize a combination of key operational measures such as our airlines’ punctuality and reliability, customer satisfaction … and group reputation and trust, to align the results of incentives for executives to experience our customers “.

Both Qantas and its budget subsidiary Jetstar have been plagued with delays, cancellations and other problems as air travel recovered from the pandemic this year.

Joyce was forced to apologize after blaming customers for not being “fit” to fly as queues snaked through airports in April.

The Australian Competition and Consumer Commission this week said it was investigating Qantas about customer complaints about delayed and canceled flights and is continuing an existing investigation into the airline’s policies regarding refunds and flight credits.

About 4,000 Australians were stranded in Bali for a week by Jetstar after the budget carrier canceled eight round-trip flights to Denpasar Airport.

Related: Proud to be a Qantas Pilot, but Seems Determined to Cut Costs and Auction Jobs to Highest Bidder | Tony Luca

And on Wednesday night, customers on a Qantas flight from Sydney were escorted off the plane by armed police when it landed in Melbourne because at least one passenger boarded without going through security.

Qantas was quick to hire more workers after firing thousands during the pandemic, but says a tight labor market has made it more difficult.

In addition to not receiving any short-term bonuses this year, Joyce has not received Qantas shares under the company’s long-term incentive program, although her rights under this agreement remain alive.

Under the scheme he would have been entitled to approximately 1 million Qantas shares, worth approximately $ 5.25 million at current prices, accrued this year and under previous bonus schemes dating back to 2018.

However, Joyce “has offered, and the board has agreed, to postpone the decision until at least August 2023,” Qantas said in the annual report.

Leave a Reply

Your email address will not be published.