Cleared for payout: Who’ll take? the controls

NO matter how far, or how wide he roams, Qantas honcho Alan Joyce could be taking a $13.8m payout home. The airline’s board will be quizzed about its plans for a succession plan at its annual general meeting on Friday for when Joyce is expected to step down as chief executive by the end of next year with that tidy farewell sum in his account.

Joyce has been at the helm of Australia’s premier airline since being promoted from Jetstar in 2008. And while his initial stewardship was seen as successful and progressive despite financially challenging times in the international travel market, his leadership has more recently had to weather PR storms about staff management and customer grievances as Australians begin to take to the skies, post-pandemic peak.

And while travellers care predominantly about airfares, punctuality, safety and baggage successfully arriving on the same flight as them, Australian Shareholders Association chief executive Rachel Waterhouse points out investors are more interested in a succession plan and the strength of the airline as a corporate entity.

“He’s done really well at several points in time, but retail investors will want to know who is in the wings and who can deliver the targets going forwards.’’

Both perspectives are important. But our region risks losing services to and from south-east Queensland and beyond if Qantas’ larger share of the market is threatened by any interpretation of instability with its ongoing management.

Both globally and regionally, it is vital Alan Joyce's replacement is capable of navigating the financial headwinds the world is now facing.