Virgin Australia CEO John Borghetti’s $2.8m pay beats Qantas CEO Alan Joyce’s $2m

VIRGIN Australia chief John Borghetti’s take home pay of $2.8 million has surpassed that of his Qantas rival, Alan Joyce.

VIRGIN Australia chief John Borghetti’s take home pay of $2.8 million has surpassed that of his Qantas rival, Alan Joyce.

Mr Borghetti’s salary and bonus package for 2013/14 was slightly higher than the $2.66 million he collected the previous year, despite Virgin posting a $355.6 million loss.

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His remuneration package included $1.67 million in base pay, up from $1.65 in 2012/13, the airline’s annual report shows.

However his short-term cash bonuses of $744,000 were $50,000 less than what he received a year earlier.

On top of the $2.8 million he was paid, Mr Borghetti earned $1.3 million worth of shares, taking his overall package to $4.1 million.

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Over at Qantas, Mr Joyce took home $2 million for the year after giving up five per cent of his salary and missing out on bonuses after the airline’s record $2.8 billion loss.

Virgin’s annual report said there would be no inflation-linked rises in fixed remuneration for Mr Borghetti or his senior executive team in fiscal 2015.

The airline has had a pay freeze since fiscal 2012.

Meanwhile, Mr Borghetti has donated his $37,500 annual directors fee to charity.