The airline’s chairman Richard Goyder says Qantas will wait until the ACCC investigation “progresses” before awarding $2.2 million in short-term bonuses.
Qantas will pay its departed chief executive Alan Joyce $21.4 million for the last financial year, but says more than $10 million may be withheld as the airline grapples with shareholder anger and allegations it inappropriately sold thousands of tickets on cancelled flights.
In a statement, Qantas chairman Richard Goyder said he acknowledged that the airline needed to rebuild confidence with its customers. Mr Goyder said the board also acknowledged its role in last week’s High Court determination that Qantas acted illegally in sacking nearly 1700 ground staff during the COVID-19 pandemic. But he said the commercial reasons remained sound. “We regret that the circumstances in 2020 necessitated difficult decisions across much of our workforce, including the retrenchment of the 1,700 workers involved. We will be working with the Court on appropriate compensation,” he added.
Remuneration committee chair Jacqueline Hey confirmed Mr Joyce received no severance pay. But it was not clear under what circumstances Qantas could or would claw back Mr Joyce’s long-term incentives, awarded after a comparison of Qantas’ performance against a group of peers.
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