His take-home pay for the 2021 financial year (excluding potential long-term bonuses) was $1.98 million — down from $10 million in 2019 but up from last year’s $1.74 million. The increase was because Mr Joyce took zero pay for three months in 2020 but for only one month in 2021, plus three months on reduced pay.

Qantas’ domestic and international CEO Andrew David and Jetstar boss Gareth Evans both made $1.4 million in 2021; chief financial officer Vanessa Hudson made $1.25 million and loyalty boss Olivia Wirth took home $1.25 million. Departed International department CEO Tino La Spina received $1.5 million.

Total pay across the company’s top five executives was $7.3 million, up from $5.8 million in 2020 but down from $22 million in 2019.

Qantas’ annual report says that given the sharp fall in its executive pay since the outbreak of the pandemic, it was looking to overhaul its executive pay structure for the current financial year to stop them being poached by other companies.

“Our executive cohorts are talented and in increasing demand across a range of industries, many of which, unlike aviation and tourism, are experiencing high rates of growth and activity, with financial rewards to match,” Qantas’ remuneration committee chair Paul Rayner wrote.

“The board is particularly concerned that a continued loss of capability and experience will materially inhibit the group’s ability to deliver the key outcomes required for success beyond the pandemic.”

Releasing the annual report on Friday, Qantas chairman Richard Goyder — who was paid $560,000 last year — flagged that Qantas would look at ways to pay a bonus to all employees who stay with the company through its pandemic recovery.

“The board is very conscious of the financial impact that this crisis is having on people across the group,” he said. “Just as we all lean in to get through hard times, we have a track record of sharing the benefits of strong financial performance.”

Qantas ran at a $1.7 billion statutory after-tax loss last year and a $1.9 billion loss in 2020.

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