Qantas has revealed it will pay former CEO Alan Joyce an extra $3.4 million for his last two months in the role, according to its 2024 annual report.

The multi-million-dollar payment offsets some of the $9 million worth of bonuses Mr Joyce lost as a result of several scandals which occurred under his watch, including Qantas illegally sacking 1,700 workers during the pandemic period, and the ACCC suing the airline for cancelled "ghost flights".

Mr Joyce resigned from Qantas in early September last year, pulling his retirement forward by two months to allow the airline to "accelerate its renewal".

A week after he resigned, Qantas issued its first-ever apology to the 1,700 ground crew and staff it illegally sacked and unsuccessfully fought through the Federal Court and High Court.

According to Qantas' annual report, released on Thursday morning, Mr Joyce could receive more income from the airline as he is still part of a long-term incentive plan scheme, which is valid until 2026.

He could potentially receive another $2.4 million in deferred long-term bonuses if Qantas' share price stays at its current level and the company meets its performance goals.

Those amounts will come on top of the $14.9 million Mr Joyce received for the 2022-23 financial year, his last full year as chief executive.

Meanwhile, Qantas' new CEO Vanessa Hudson took a $1.5 million pay cut in the 2023-24 financial year after the Qantas board slashed the bonuses of executives by 30 per cent, following the airline's scandals.

Ms Hudson received $4.4 million for the year, down from the previous year's $6 million.

Restoring trust in the airline is the priority

Last month, Qantas reported a 28 per cent fall in its post-tax profit for the 2023-24 financial year, to $1.25 billion, due to fares moderating as some competition returned to the sector, increased spending on customer initiatives, and reduced freight revenue.

The airline's preferred measure of underlying profit before-tax fell by 16 per cent to $2 billion in the same period.

In response to the fall in full-year profit, Ms Hudson said Qantas was focused on winning back customers after a turbulent year of headlines over its COVID-19 travel credits scheme and legal battles.

"Looking ahead, I know the job is not done," she said at a press conference.

In a statement to the ASX, Ms Hudson said "restoring trust and pride in Qantas as the national carrier" was the airline's priority.

"And while there's more work to do, we'll get there by delivering for our customers and people consistently into the future," she said in her statement.

When Mr Joyce announced his retirement two months earlier than scheduled last year, the national secretary of the Transport Workers Union, Michael Kaine, said it was "the first good decision the Qantas board has made for a very long time".

Mr Kaine said Mr Joyce needed to have his millions of dollars worth of bonuses stripped "immediately".

"The new regime must embark on a total reset. Qantas needs to bring back good, secure jobs and quality standards."

The Australian Council of Trade Unions (ACTU) also welcomed Mr Joyce's decision to leave the airline earlier than scheduled, and said Qantas had an opportunity to start afresh.

"Whilst we welcome Alan Joyce's exit, what really needs to go is the culture of profit over people," ACTU president Michele O'Neil said at the time.

"Now is the opportunity for Qantas to restore its reputation as the nation's flagship carrier by working with unions to pay workers the fair wages and conditions they deserve and restore customers' faith in this airline."

A 'positive start' to a new relationship

Last month, Qantas announced that it had reached an in-principle agreement with the Flight Attendants' Association of Australia (FAAA) to provide its staff with more pay and job security.

In December 2023, the Albanese government passed its "Same Job Same Pay" legislation, which the airline said affected some long-standing workforce arrangements used by Qantas and other businesses.

After discussions with the FAAA over the changes, last month Qantas confirmed it would support the union's three Fair Work Commission applications for its short-haul cabin crew and a separate in-principle agreement for its long-haul cabin crew workforce.

Qantas said it would see 800 Qantas short-haul cabin crew receiving pay increases soon, as well as about 2,500 international crew.

FAAA federal secretary Teri O'Toole said it would amount to an average 30 per cent pay increase for workers.

Qantas said it expected the gross impact of the proposed changes in the 2025 financial year to be about $60 million, and it would look to offset the wage increases through revenue and cost savings.

Ms O'Toole said the new agreement was a positive start to a new relationship with the airline.