Qantas boss Alan Joyce paid $2m as airline struggles

QANTAS boss Alan Joyce was paid $2 million last financial year, even after giving up five per cent of his salary and receiving no bonuses.

QANTAS boss Alan Joyce was paid $2 million last financial year, even after giving up five per cent of his salary and receiving no bonuses.

The airline suffered its largest ever loss in the 2013/14 year - $2.8 billion - as it engaged in a profit-draining battle with rival Virgin and continued to make losses in its international division.

Qantas CEO Alan Joyce was paid $2 million last financial year. Picture: Getty

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As Qantas undergoes a major overhaul, including 5000 job cuts, senior executives and management have agreed to a pay freeze, and Mr Joyce decided to forego five per cent of his salary from January 1.

Mr Joyce’s salary of $2 million in 2013/14 was down from $3.33 million in the previous year, when he was paid a cash bonus and received awards deferred from previous years.

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Other senior executives also took pay cuts.

Qantas International boss Simon Hickey was paid $948,000 in 2013/14, down from $1.5 million in the prior year, and Jetstar boss Jayne Hrdlicka’s pay fell by $323,000 to $1.04 million.

Qantas Domestic head Lyell Strambi was paid $1.08 million, a fall of $353,000.

Qantas’ remuneration bill for all executives was $6.93 million in 2013/14, down 32 per cent from a year earlier.

Originally published as Qantas boss Alan Joyce paid $2m as airline struggles