Qantas Airways Limited
(ASX:QAN) is set to pay $90 million in bonuses to staff who were covered by an 18 month wage freeze policy.
The airline says staff will receive a one-off payment worth 5 per cent of the base salary and will be made after the release of annual results.
The bonus will reach up to 28,000 Qantas Group employees with the non0recurring cost to be recognised in the Group’s 2016 financial year, outside of underlying earnings.
CEO Alan Joyce says the ability to make the payments reflects a bright future for the Qantas Group provided it stays focussed on fully delivering the transformation program.
Qantas reported a net profit of $206 million for the first half of the 2015 financial year.
