, Qantas has revealed why some of its own executives have been looking rather teary of late.
The airline’s financial results on Thursday revealed a $1.7 billion loss in market conditions that chief executiveLater in the day, company reps revealed that it wasn’t just shareholders taking a hit. Hello, QF executive team. While the airline will make us wait until September for the full executive pay breakdown, it revealed that pay for senior executives over the past financial year was down 70 per cent on pre-pandemic levels. Oh, and annual bonuses had been cancelled. Again.
The board took reduced fees while some members of the executive team accepted payment in Qantas shares rather than cash. It’s a similar story towhen Joyce took home a total package of $1.7 million compared to $9.9 million the previous year and $24 million in the 2016-2017 financial year when he was the country’s highest paid executive.
Joyce drew the line at taking his long-term equity bonus incentive last year, putting off the decision on whether to accept the shares worth $1.3 million for another year. But now, that year is almost up and D-Day is approaching for Joyce to collect or not. Our guess is that those shares will spend another year on ice.
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