Qantas Airways Limited (ASX:QAN) has shown its chief’s total remuneration package fell 40 per cent over the last 2014 financial year.
Australia’s biggest airline’s annual report reveals CEO Alan Joyce’s take-home pay dropped to just over $2 million from $3.3 million the year before.
Qantas’ annual report also shows the company’s senior and middle management had a pay freeze and the airline declined to pay bonuses.
The report comes after the company last week posted growing losses on the back of restructuring charges and major write-downs.
Mr Joyce described the annual financial result as confronting but claims the airline has now gone through the worst.
Qantas Airways extended its net loss to $2.8 billion in the full 2014 financial year.
