Former Qantas boss Alan Joyce will enjoy $100,000 worth of free business class travel every year for the next two decades due to generous executive perks.
Mr Joyce and his husband Shane Lloyd will be allowed to take four long-haul and twelve shorter trips each year until 2046.
The total cost of the long-haul flights is expected to cost Qantas close to $2million per person - with a return flight to Mr Joyces native Dublin worth $20,000.
The perks are given to all Qantas executives and their nominated beneficiaries, allowing them to fly free for as many years as they served the airline.
Mr Joyce has been with Qantas for 23 years after joing in 2000 and resigning in 2023 - meaning he will be flying free until he turns 80-years-old.
Its a massive win for Mr Joyce, who had $9.26million slashed from his remuneration package in August.
Qantas announced it would reduce the payment, initially worth $11.919million in 2022-23, after a review blamed him for damaging the airlines reputation.
Having led Qantas as chief executive for 15 years, Mr Joyce stepped down amid intense criticism over cancelled flights, lost luggage, and accusations of exploiting customers with exorbitant prices.
Former Qantas boss Alan Joyce will enjoy $100,000 worth of free business class travel every year for the next two decades due to generous executive perks
Proxy advisory firm Ownership Matters said airline executives retain access to the free flights once they leave.
Qantas board members are slightly worse off than Mr Joyce, as they receive three long-haul and nine short-haul flights each year, according to the advisory group.
Former head of Qantas loyalty program Olivia Wirth has also been granted access to the perk for the next 14 years after leaving the airline in February.
She was first hired at the national airline in July 2009 as the head of corporate affairs and government relations before joining Myer as a non-executive director.
Ms Wirths resignation also came with a good leaver pro-rated bonus of $579,000 in cash and shares, her unvested long-term incentive allocations pro-rata and a severance payment of $479,000.
Qantas representatives told Ownership Matters that Ms Wirths good leaver bonus reflected the fact Myer was not a competitor and ensured a good handover.
The decision for Mr Joyce and Ms Wirth to retain the free flights comes after Qantas reported a drop in travel benefits over the last financial year.
The disclosed financial year 2024 cost of travel benefits was $374,000 (down from 2023’s $435,000) and $124,000 was accrued for post-employment travel (from $100,000 in 2023), the firm told the Australian Financial Review.
Qantas has spent the past year since Mr Joyces resignation trying to revive the airlines damaged reputation among customers.
Mr Joyce will be allowed to fly first class for free until 2046 after shareholders agreed to extend the perk for every year he was with the airline (pictured, Mr Joyce at Sydney Airport)
Changes to remuneration packages for executives introduced last month made customer outcomes bear more weight on annual bonuses.
It also introduced brand reputation as a performance measure for long-term incentives in an attempt to make executives pay packages more transparent.
Qantas has made significant progress over the past 12 months, but we know theres a lot more to do to restore trust with our customers, Qantas chairman Richard Goyder said in a statement.
Weve seen strong improvement in on-time performance, customer satisfaction and reputation for both Qantas and Jetstar, and the Group is performing strong financially.
Its this financial strength that means were able to continue investing in new aircraft, improving the experience for our customers and our people.
The board has listened to feedback on the pay structure for our executives and have made a series of changes which we are confident will encourage better outcomes for our stakeholders.
Revelations of Mr Joyces free travel come after the ex-Qantas chief was seen chatting to another man as he was forced to wait for his luggage at the carousel at Sydney Airport early on Monday morning, having arrived from an overseas trip.
Mr Joyce looked casual in light-coloured trousers, black sneakers, a buttoned up shirt and a black jacket.
Beside him were bleary-eyed passengers in tracksuit pants waiting for their own suitcases.