The airline’s chief executive is exiting the business in November. The businessman paid $9m for a Sydney CBD penthouse in recent weeks.
Outgoing Qantas chief executive Alan Joyce has sold $17 million worth of shares in the airline days after purchasing a penthouse in The Rocks overlooking the Sydney Opera House for $9 million.Joyce is stepping down as the carrier’s chief executive in November after 15 years running Qantas. He will be replaced by the airline’s chief financial officer, Vanessa Hudson, at that time.
Sources said Joyce had held the shares since 2012, when they traded at around $1.50. They were sold last week, through ANZ, for $6.74. Qantas shares were trading at $6.55 on Tuesday afternoon. He will still own Qantas shares and has rights to more, including some provided as a retention incentive during the COVID-19 pandemic. They will vest this year.
Qantas shares have risen around 23 per cent in the last 12 months amid a surge in demand for travel following the pandemic. The airline forecast underlying pre-tax profit will reach up to $2.5 billion for the year to June 30. Qantas has told investors that it expects to fly 108 per cent of 2019 capacity by December 31. Revenue intake was 118 per cent of pre-pandemic levels in the four weeks to March 13.
Joyce, and his husband Shane Lloyd, intend to double the size of their Sydney CBD penthouse after acquiring a second half-floor apartment adjacent to that property last week. The couple will eventually sell their $19 million Mosman house that they have held for a little over 12 months. has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.
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