Qantas Freight inducts maiden A330-200PCF

Australia's Rex pivots towards tenders and closed charters

Qantas Group chairman resists calls to stand down

The chairman of Qantas Group is staring down calls for him to resign, saying he has the support of the biggest shareholders. Richard Goyder made his position clear during a three-hour appearance before an Australian government Senate Select Committee hearing on bilateral air service agreements in Canberra on September 27.

This followed calls from the chief executive of the Australian Shareholders Association (ASA), a non-profit retail investor lobby group, for Goyder to stand down. These came after intense criticism of the Qantas Group board for its apparent lack of oversight in a series of scandals engulfing the company and the early exit of now former CEO Alan Joyce. Qantas Group includes airline brands such as Qantas, QantasLink, Jetstar Airways, and Qantas Freight.

"We think it's time for Goyder to step down," ASA CEO Rachel Waterhouse told the Australian Broadcasting Corporation this week. "What I've been hearing from retail shareholders is that change is required and that Richard Goyder should step down."

While receiving widespread criticism during the pandemic for its refund...

Ex-Qantas boss's hefty bonuses under threat amid outcry

A large slice of the AUD21.4 million Australian dollars (USD13.72 million) former Qantas Group CEO Alan Joyce stands to collect after his departure is at risk as rolling scandals and shareholder discontent engulf the carrier.

Joyce exited the Qantas Group HQ earlier this month, two months ahead of schedule, as the media zeroed in on a series of unsavoury decisions taken by management that materially affected thousands of customers and frontline employees. That included attempting to cancel around AUD500 million (USD320.5 million) in flight credits at the end of this year and keeping the money, illegally sacking around 1,700 ground handlers, and continuing to sell tickets on approximately 8,000 flights last year after having cancelled those flights.

The bulk of Joyce's walkaway remuneration comes from cashing in long-term share-based incentives from his 15 years as CEO. His base pay for FY23 was AUD2.145 million (USD1.37 million). In June, after announcing his resignation, Joyce sold AUD17 million (USD10.9 million) worth of shares to fund the acquisition of an apartment in the Sydney central business district. Since...

Qantas orders twelve B787s, twelve A350s

Qantas (QF, Sydney Kingsford Smith) will order two dozen long range widebodies, including twelve A350s and twelve B787s, to replace existing A330 and A380 types. The airline confirmed the order in Sydney on August 24 when announcing their FY22/23 results.

The order, which Qantas calls the "final piece of its jet fleet renewal program," is split between both manufacturers to provide maximum flexibility for future growth. The B787s will progressively replace the carrier's twenty-eight A330s, and the A350s will replace the carrier's ten A380-800s, which Qantas intends to start retiring from FY32. There are also additional purchase rights options.

"We can draw down the purchase rights as needed for further replacement of aircraft, or for future growth," said Qantas Group CEO Alan Joyce. "Our financial framework will continue to guide our decision-making, and the phasing of these orders, coupled with the flexibility to shift deliveries, gives us confidence that we can fund this within our debt range and through earnings while we continue to return money to our shareholders." The Qantas Group includes...

Editorial Comment: Article updated to reflect confirmation of the aircraft order - 24.08.2023 - 06:31 UTC