QAN 0.74% $5.45 qantas airways limited

Just a further word on your CEO's remuneration. In 1992, just...

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    Just a further word on your CEO's remuneration. In 1992, just before the airline was privatised the then CEO, John Ward earned about the same as a senior 747 Captain. Of course "Tubby" had many other perks not available to his hard working staff, company car and driver, executive dining room, unlimited free First Class travel etc. So that seemed about right.
    Your Mr Joyce now earns about 62 times one of his senior 747 Captains. Or to put it another way, a senior 747 Captain earns about 1.5% of the salary of the CEO.
    Is he worth 62 times as much? I doubt it.
    Mr Joyce has some pretty good acting skills though, to go with his maths skills. Remember the whopping great multi-billion loss in 2015? Mr Joyce actually manufactured that by depreciating the A380 fleet down to zero. Then went crying to Canberra cap in hand for a taxpayer guarantee on loans. Would have got it too if the then Treasurer, Hockey, had had his way.
    The turnaround isn't much to do with efficiency. If anyone cares to look, they'll probably find that Qantas Group staff numbers have crept back higher now than before the 5000 layoffs began in 2014-15. It has a lot to do with smoke and mirrors.
 
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