International Airlines Group's Spanish airline Iberia named Fernando Candela as its new acting president and CEO, replacing Javier Sanchez-Prieto. Candela will take over from Sanchez-Prieto in July and lead the company until the end of the year, IAG said Thursday. Candela, who has been CEO since 2019 of IAG-owned, low-cost airline brand LEVEL and was previously CEO of the budget Iberia Express brand, will be tasked with leading negotiations to complete the purchase of Air Europa and addressing the repayment of debt accumulated during the pandemic, IAG said. IAG, which also owns British Airways, in February agreed to buy the remaining 80% of Air Europa it did not already own for E400m. The deal still needs regulatory approval from Brussels. A first attempt to buy the airline in 2021 failed after it was rejected by regulators on concerns about a lack of competition on Latin American routes. Candela's "extensive experience in the world of aviation and transformation will add a lot of value to the company," IAG CEO Luis Gallego said. "His trustworthiness makes him the best person to lead Iberia in the coming months."<br/>
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Qantas will pay soon to be minted chief executive Vanessa Hudson’s a base salary of $1.6m when she starts in the role in November, but she may receive millions more if the carrier meets its short and long-term bonus targets. Hudson’s take-home pay could reach up to – or more than – $5.8m, dependent on the group meeting operational and share price targets. She will also be entitled to four long-haul and 12 short-haul trips each calendar year. The company’s shareholders vote on the chief executive’s remuneration at the annual general meeting each November and have voted in favour of current CE Alan Joyce’s remuneration since he took over the airline in 2008. Hudson’s base salary will be 25% lower than outgoing chief Joyce, who’s paid $2.2m, and her target total remuneration figure is about 30% lower than his $8.4m. Joyce was paid 24% less than his predecessor, Geoff Dixon, when he began his 15-year tenure on a $2m salary in 2008. Chairman Richard Goyder announced Hudson’s elevation from CFO this week after a late-night Qantas board meeting on Tuesday, ending months of speculation into the carrier’s succession plan. Joyce faced significant criticism from disgruntled passengers and some employees over his multimillion-dollar pay packet last year, despite the airline’s shareholders voting in favour of his remuneration. He’s eligible for $15.2m in bonuses at the end of this financial year, after deferring his long-term incentives for the past three years. He may also cash in about $4.5m in short-term bonuses depending on the Qantas board’s assessment in August.<br/>