Qantas CEO receives pay rise despite flight chaos
- Qantas CEO Alan Joyce received a $287,000 pay rise in the past year, company documents show.
- The CEO and other top executives did not receive cash bonuses, bringing his base salary to $2.1 million.
- The airline stranded 4,000 passengers in Bali last week after a series of flight cancellations.
Qantas CEO Alan Joyce has secured a $287,000 raise over the past year, taking his total salary to just over $5.5million despite infuriating summer travel, documents show from the SEC filed Friday.
The payout has generated further pushback against the airline executive, whose $19million mansion was bombarded with eggs and toilet paper earlier this summer after the airline canceled one in 12 flights in June .
Four thousand passengers were stranded in Bali during the first week of September by Jetstar, the airline’s low-cost carrier, after a series of flight cancellations caused by problems with its Boeing 787 fleet. were stranded without a return flight for almost a week.
“It is shameful that while thousands of people are stuck in Bali and everywhere else, he is giving himself a huge salary,” said Australian Labor Senator Tony Sheldon. Told local media, calling Joyce’s salary “offensive as hell”.
“Flights are still being canceled all around Australia. All the jobs lost, all the lives ruined, and that’s what it’s all about, Joyce’s salary,” he added.
Qantas did not immediately respond to Insider’s request for comment sent outside of normal Australian business hours. A spokesperson Told The Guardian that Joyce’s total salary package includes estimates of the future value of the shares and is “not a precise figure of what he was paid”, noting that his salary is 77% below the levels of before the pandemic.
Qantas has also suspended its executive bonus scheme, which is due to return next year with a “higher weighting” on customer-related targets, said Jacqueline Hey, chair of the airline’s compensation committee.
Joyce’s total salary is higher than last year as he receives a full annual salary of $2.1 million after voluntarily receiving a reduced base salary “for a period of seven months straddling the two recent years,” Hey noted in the report.
The ACCC, Australia’s consumer watchdog organization, is investigating a sea of Qantas-related customer complaints, The Guardian reported last week.
The entire aviation industry is struggling to manage record travel demand due to a combination of factors, namely staff shortages, which may not be fully resolved until 2024.