Qantas boss Alan Joyce takes home $ 9.9 million in salary and bonuses – $ 1 million less than a year earlier, while the airline sees profits fall by six percent
- Qantas CEO Alan Joyce took $ 1 million less in salary after the profit plummeted
- Mr. Joyce took home $ 9.9 million, which was $ 1 million less than a year earlier
- Qantas chairman said a number of factors, including loss of profit, were to blame
The CEO of Qantas took a $ 1 million pay cut after the company booked a profit loss of six percent in the past financial year.
Qantas Airways CEO Alan Joyce took home $ 9.9 million in salary and bonuses last year, $ 1 million less than the year before.
The chairman of the airline Richard Goyder told The Sydney Morning Herald all executives saw an eight percent drop after the company recorded a six percent drop in profits to $ 1.27 billion.
Qantas CEO Alan Joyce (photo) took a $ 1 million salary cut after the company posted a six percent profit loss in the past financial year
Other factors also contributed to bonuses being delayed, including workplace injuries and a $ 2 million fine for the airline's budget arm, Jetstar.
The fine came after Jetstar was found guilty of misleading customers about their rights regarding refunds.
Despite the bonuses, Mr. Joyce still received a short-term bonus of $ 1.17 million in cash and $ 586,000 in shares.
These figures represented a reduction of 41% compared to the previous year.
Although he received less this year than last year, Mr. Joyce received a basic salary increase of two percent to $ 2.14 million, which is his first pay increase in eight years.
Qantas closed the market this week with a 1.83 percent increase in inventory value at $ 6.11AUD, a fall from the beginning of the week it was opened at $ 10AUD.
Despite the payment of bonuses, Mr. Joyce still received a short-term bonus of $ 1.17 million in cash and $ 586,000 in shares
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