TWU slams Joyce's $11.9m pay packet

The national secretary of the Transport Workers Union has slammed Qantas CEO Alan Joyce's 11.9 pay packet.

Qantas CEO Alan Joyce

Qantas CEO Alan Joyce was paid $11.9 million in 2014/15, as the airline staged a profit turnaround. (AAP)

Qantas chief executive Alan Joyce's $11.9 million pay packet is an affront to staff forced into part-time work who are struggling to support their families, Transport Workers Union national secretary Tony Sheldon says.

Mr Joyce was awarded $6.9 million in shares in 2014/15 as part of long-term incentives, a week after the company reported the largest financial turnaround in Australian corporate history.

Mr Sheldon has slammed Mr Joyce's pay packet, saying Qantas should better conditions for all workers, not just executives.

"Management are paying themselves millions while thousands of employees in the Qantas supply chain are on wage freezes and forced into part-time work, Mr Sheldon said.

"You can't pay full-time bills with part-time pay."

Mr Joyce's tenure has been mired in controversy since he grounded the Qantas fleet in 2011 amid a battle with unions over pay agreements.

He launched a major overhaul of the company in 2014, including plans to axe 5000 staff, as it plunged to a $2.8 billion loss.

Qantas has since cut 4000 of those jobs, and along with a drastic reduction in fuel costs, Mr Joyce's restructure helped deliver a profit of $557 million in the 2014/15 financial year.

The huge long-term bonus is the first granted to Mr Joyce in five years.

Mr Sheldon said there was "no justification for this level of greed".

"This is an industry where 21 per cent of employees are earning below the poverty line."


Share

2 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world