Ir­ish boss of Qan­tas sees pay al­most dou­ble to ¤16.5m

The Irish Times - - Business Today -

Qan­tas chief ex­ec­u­tive Alan Joyce’s com­pen­sa­tion al­most dou­bled in the lat­est fi­nan­cial year af­ter he helped re­vive the fal­ter­ing Aus­tralian car­rier.

The to­tal pack­age for Asia Pa­cific’s best-paid air­line ex­ec­u­tive surged to AU$24.6 mil­lion (¤16.5 mil­lion) in the 12 months to June 30th, from about AU$13 mil­lion a year ear­lier, ac­cord­ing to the com­pany’s an­nual re­port. His base pay re­mained un­changed at AU$2.1 mil­lion.

Un­der Ir­ish­man Alan Joyce (51) the air­line re­ported its sec­ond-high­est an­nual profit on record in Au­gust and an­nounced its fourth buy­back of stock in two years, mark­ing the suc­cess­ful com­ple­tion of his turn­around pro­gramme.

The son of a cleaner and fac­tory worker has cut thou­sands of jobs, de­ferred air­craft, re­tired air­craft and dropped un­prof­itable routes to re­verse losses. Named chief ex­ec­u­tive in Novem­ber 2008, Joyce strug­gled with crude oil prices and a ri­valry with Vir­gin Aus­tralia amid calls for his fir­ing. But since Fe­bru­ary 2014 shares of the car­rier have quadru­pled.

Alan Joyce: re­vived fal­ter­ing Aus­tralian car­rier

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