Alan Joyce’s $20m win despite huge Qantas pay cut

Despite having $9m slashed from his final payday at Qantas, ex-CEO Alan Joyce has $20m reasons to smile.

Alan Joyce is headed off into a $20m+ retirement home.

Ex-Qantas boss Alan Joyce on Thursday copped a massive $9.3m hit after the airline’s board slashed his earnings and bonuses that were deferred during the pandemic

It’s a a big blow to the controversial CEO but regardless Joyce will be enjoying the type of retirement most of us can only dream of.

The controversial airline boss has long planned his departure from The Flying Kangaroo despite the sudden announcement of his exit in September last year.

And a big part of Joyce’s post-work life will be his $20m+ apartment in The Rocks in the heart of Sydney, featuring world class views of the Sydney Harbour Bridge and the Sydney Opera House.

This is the life.

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Joyce had planned to enjoy his time off, after heading up Qantas since 2008 in one of Sydney’s most exclusive suburbs – Mosman – in a stunning absolute waterfront home.

Bought for $19m in March 2022 year, Joyce and husband Shane Lloyd has spent millions doing up the stunning four-bedroom residence with private deep waterfront jetty on Mosman Bay.

The property, which features approximately 433sq m of internal living space, was sympathetically recreated in 2015 by Seattle-based architect Paul Moon with additional renovations recently completed by Levine Vokaberg.

Joyce never lived in his $20m Mosman mansion.

No aircraft noise here.

The home was extensively renovated.

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However Joyce and Lloyd had a change of heart and decided to expand their current home at The Rocks and in July sold the Musgrave St home for ‘just under $21m’.

In the brief time Joyce and Lloyd held the 1908 home they undertook a grand internal renovation with fixtures and fittings imported from the US and furniture that was thrown into the sale.

Although the intention was to call Musgrave St home, the couple had a change of heart and decided to expand their inner city footprint by adding to their bolthole in The Rocks.

Qantas CEO Alan Joyce (L) and husband Shane Lloyd attend the Qantas 100th Gala Dinner at Sydney Airport in March. Picture: Getty

“We were unexpectedly given the opportunity to secure the other half level apartment where we live currently,” Joyce said regarding their real estate U-turn.

“This meant we wouldn’t be moving to Mosman.

“We certainly wish the next owners of 12 Musgrave St all the best in what is a stunning home.”

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The grand mansion dates back to 1908.

With contemporary luxury touches.

‘I still call Australia home.’

It is also possible the pair had been left with a bad taste in their mouths after a seemingly random attack at the Mosman property in July last year which saw the home covered in eggs and toilet paper.

They reportedly paid about $9m for their neighbour’s 223sq m three-bedroom apartment with views of the Opera House in the Harry Seidler-designed complex, earlier this year.

The word is their sub-penthouse Rocks acquisition will trigger renovations to amalgamate the whole floor space into a six-bedroom, all with ensuites, so they can accommodate family visiting from overseas.

Joyce plans to amalgamate the two apartments.

No need to do anything to this view.

The home is in the heart of The Rocks.

The apartment had cost $4.575 million in 2008, the year he took on the top job at Mascot. It is likely to be worth double that now and an amalgamated apartment would grow even further in value.

Joyce also has a Palm Beach weekender which cost $5.25 million in 2015.

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Originally published as Alan Joyce’s $20m win despite huge Qantas pay cut