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Qantas’s Alan Joyce earns five times the pay of the whole Rex executive crew

Regional Express paid its entire executive team a total of $2.2m this year, or about a fifth of Alan Joyce’s entire salary.

A Regional Express Airlines plane at the airline's launch at Sydney Airport. Picture AFP
A Regional Express Airlines plane at the airline's launch at Sydney Airport. Picture AFP

Australia’s largest regional airline Regional Express paid its entire executive team a total of $2.2 million in the year to June 30, or about a fifth of Alan Joyce’s entire salary.

The Rex (REX) annual report released today, showed executive chairman Lim Kim Hai continued to forfeit his director’s fee “in light of the continuing difficult environment”.

Executive director and chief operating office Neville Howell was the highest paid member of the team, pocketing $293,136 up from $260,996 in 2017. That was due to a $15,000 increase in his base salary and $16,000 jump in cash profit sharing and bonuses.

General manager of flight operations and chief pilot Paul David Fisher was the second highest earner, collecting $265,623 followed by general manager corporate services Irwin Tan, on $249,811.

The remuneration bill for all 14 executives and directors came to $2.27m up from $2.08m the previous year.

In the 2018 financial year Qantas Group chief executive Alan Joyce earned $10.9m while his Virgin Australia Group counterpart John Borghetti made $4m.

The increases were reflective of the improvement in net profit by Regional Express, which lifted from $12.6m to $16.9m in the last financial year, while the share price improved from $1.11 to $1.43.

Yesterday shares in the airline closed up at $1.60.

Rex carries around 1.2 million passengers a year on 60 regional routes throughout Australia, flying some 75,000 services a year.

The airline was first established in 2002 in the wake of the Ansett collapse, and has a fleet of 55 Saab 340 turboprop aircraft.

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Original URL: https://www.theaustralian.com.au/business/aviation/qantass-alan-joyce-earns-five-times-the-pay-of-the-whole-rex-executive-crew/news-story/988d4b2047e538ff45e52fd167514cdb