Qantas board urged to withhold bonuses of Alan Joyce and senior executives

Alan Joyce and senior Qantas executives should have millions of dollars in bonuses withheld, its board has been urged after the airline conceded its reputation has been flamed and as momentum builds to investigate the airline’s special relationship with government. The Australian Shareholders’ Association CE, Rachel Waterhouse, said that if the company is serious about restoring public trust after the surprise launch last week of legal action by the consumer watchdog there needed to be a more immediate response from the airline’s board. The Australian Competition and Consumer Commission shocked Qantas on Thursday when it announced litigation alleging the airline sold tickets to more than 8,000 flights it had already cancelled. Waterhouse said given the court action could take some time to resolve, the chair, Richard Goyder, needed to step up now. “It’s a reputational issue and the board is responsible for managing that,” Waterhouse said. “There’s deterioration in the brand and also the share price. They might need to make some decisions to put bonuses on hold or reconsider their remuneration.” The issues facing Qantas are fast growing into a big business challenge for the airline that resembles the problems faced by Commonwealth Bank in 2017 over its handling of money-laundering allegations. In response, the then CBA chair, Catherine Livingstone, immediately axed senior executive bonuses, while others had their remuneration cut.<br/>