Qantas pays staff bonus
July 3, 2015
Qantas said Friday it would make a one-off bonus payment to 28,000 employees who were part of an 18-month wage freeze agreement. The bonus will be 5 percent of the base annual salary for each worker, costing the Australian flag carrier an estimated $90 million (81 million euros) on full implementation.
This bonus did not extend to employees who are part of management bonus schemes, the airline said in a statement.
Qantas Group CEO Alan Joyce said the bonus was recognition of the contribution made by all employees to strengthening the group's long-term competitive position. After a loss of $2 billion last year, Qantas expects to log a pre-tax profit of about $750 million in 2015.
"The rapid turnaround of the Qantas Group has only been made possible through the dedication and hard work of all our people," Joyce said.
Under its restructuring program called Qantas Transformation, the airline is slashing between 25,000 and 30,000 jobs across the group and has introduced an 18-month pay freeze for remaining workers. According to CEO Alan Joyce, Qantas expected to realize savings of $875 million for 2015 "well ahead of schedule."
"Our ability to make these bonus payments reflects a bright future for the Qantas Group, provided we stay focussed on fully delivering the transformation program that has brought us this far," he added.
According to a report in the Sydney Morning Herald, Joyce will receive a bonus of $1.3 million this year on top of his $1.5-million annual salary.
uhe/bk (dpa, Qantas.com)