Alan Joyce, the CEO of Qantas, has come under scathing criticism from 2GB radio commentator Ben Fordham after receiving over $80 million in pay in only 10 years.
The Australian national carrier has received harsh feedback from customers about its performance ever since services were restarted after Covid lockdown limitations.
Huge lines, canceled flights, missing luggage, and having to wait months for reimbursements for unused tickets have all been complaints from travelers.
However, Mr. Joyce has been making millions as the airline’s CEO, earning $75 million between 2012 and 2020 and an additional $4.2 million in the previous two years. This is despite the significant decline in the airline’s once-luxury image.
Qantas boss Alan Joyce has come under savage attack after the airline chief was paid almost $80 million in just 10 years
‘That just blows my mind,’ said 2GB’s Ben Fordham on Tuesday as he unloaded on the Qantas boss, whose $19million home was egged in a mystery midnight attack in July.
‘It’s shameless that while 1000s of people are stranded on the tarmac, the boss gives himself a massive payday.’
In 2017, Mr Joyce – who bought his stunning harbourside mansion on Sydney’s ritzy north shore earlier this year – earned a staggering $25million in just 12 months.
Even in the midst of the pandemic – when the airline was effectively mothballed and shut down, Mr Joyce still pocketed $4.2million in 2021 and 2022.
And even when Qantas made a $2.8billion loss in 2014, Mr Joyce still managed to earn $50million in salary and shares in the three years that followed, reported the AFR.
2GB radio host Ben Fordham slammed the CEO’s pay as ‘shameless’ and questioned his worth
Qantas boss Alan Joyce splashed out on a sprawling $19million Mosman waterfront mansion overlooking Sydney harbour. He moved into the property with his husband Shane Lloyd in May
But the CEO’s reign has seen the company’s reputation slip from the third-highest rated in the world to now ranking eighth in the World Airline Awards.
But despite the passenger backlash, Qantas has been quietly putting flight prices up.
Citigroup analyst Samuel Seow found Qantas ticket prices have risen by almost a third on pre-pandemic fares in 2018-19.
‘It is staggering – and with eye-watering amounts of money being paid to the CEO comes some critical attention,’ said Fordham.
‘The buck really has to stop at Alan Joyce’s desk and when you’ve got so many bucks going to Alan Joyce, the pressure is really on the Qantas CEO.
The airline has faced some of its worst performance levels in history with more than half of Qantas passengers having their flight either delayed or completely cancelled in one week
‘When a company’s reputation is copping a hit, people start asking questions, and they look towards the CEO.
‘With such an extraordinary amount of money being paid to one individual, that pressure on that individual is going to mount so they need some performance improvements, and they need them fast.
‘If that doesn’t happen soon. I think Alan Joyce is going to have a tough time justifying his jumbo sized salary.’
Fordham said part of the blame lay with the board and shareholders for backing Mr Joyce in the face of the declining standards and rising fury from passengers.
‘Part of me says Good luck to him,’ added Fordham.
‘If you’ve got the shareholders behind you and the quarters board or saying well, this is what he’s worth, then good luck to him.
”But is Alan Joyce worth it?”