Qantas CEO pay sinks 83% to €1.05 million as covid axes bonus

Dubliner Joyce was amongst Australia's highest-paid CEOs last year

Qantas is cutting as many as 8,500 jobs to weather a near-halt in income due to virus-related travel restrictions. Picture: Bloomberg

Qantas Chief Executive Officer Alan Joyce’s compensation fell 83% to $1.7 million (€1.05 million) in the year ended June as the airline slashed salaries and bonuses to save money during the coronavirus crisis.

Dubliner Joyce went without pay from early March until August, when he started taking 65% of his base salary, Qantas said in a statement Friday. He got no bonus for the fiscal year, and opted not to receive 343,500 shares tied to his long-term incentive from 2017.