Qantas to slash ex-CEO’s payout

(FILES) A file photo taken on July 22, 2020 shows Qantas CEO Alan Joyce speaking before the last Qantas Boeing 747 airliner departs from Sydney airport to the US. Australian airline Qantas said on August 8, 2024, will claw back 6 million USD of bonuses paid to ex-CEO Alan Joyce on August 8, 2024, citing poor performance and a series of damaging public scandals. (Photo by Peter PARKS / AFP)

Sydney, Australia — Australian airline Qantas said Thursday it will claw back millions of dollars of bonuses paid to ex-CEO Alan Joyce, citing poor performance and a series of damaging public scandals.

The carrier said its board had approved a Aus$9.26 million (US$6 million) reduction in the Irish-born executive’s payout package.

Joyce took early retirement in late 2023 as the once-beloved airline faced sustained criticism over its service, soaring ticket prices and the treatment of staff.

READ: Qantas CEO to step down early as airline’s reputation under scrutiny

It enraged once-loyal Australians by charging high ticket prices despite record profits and getting a multi-billion-dollar taxpayer-funded bailout during the pandemic.

It was also embroiled in a bruising “ghost flights” scandal that saw it pay a massive fine for continuing to sell seats on long-cancelled flights.

Qantas said it had made the decision taking into account the “challenges” facing the airline and “in recognition of the customer and brand impact of cumulative events”.

The carrier was long seen as the “spirit of Australia” — the nation’s link to the rest of the world. Although not state-run, Qantas is seen as an integral part of the economy and vital to cohesion in a country where major cities are hundreds of kilometres apart.