News National Qantas CEO takes pay cut

Qantas CEO takes pay cut

Twitter Facebook Reddit Pinterest Email

Qantas CEO Alan Joyce has taken a pay cut of $1.3 million after the struggling airline posted an annual loss of $2.8 billion last week.

According to Qantas’ 2014 annual report, Mr Joyce’s total renumeration in 2013/2014 was $2 million, down from $3.3 million the previous year.

• Qantas posts $2.84 billion loss
• Qantas urged to cut thousands more jobs

Following the airline’s worse than expected financial result, many have slammed Mr Joyce, calling for him to step down.

Mr Joyce, who has been CEO of Qantas since 2008, acknowledged the figures were confronting.

“There are always people out after my head. That hasn’t changed for a long time,” he told a press conference.

Independent Senator Nick Xenophon said Mr Joyce had “given the national icon the kiss of death”.

Australian Shareholders’ Association chairman Ian Curry told The New Daily it was “time for change”.

“I think Alan Joyce has probably got to be accountable for the next year or two, but he certainly shouldn’t be getting any rewards for what’s been happening,” Mr Curry said.