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2w ago

Qantas Trims Executive Bonuses Over Data Breach, Confirms Joyce’s $3.8m Vesting

The board cast the 15% cut as shared accountability for the late‑June cyber incident during the FY25 report release.

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Alan Joyce smiles on stage
Workers can be seen near Qantas Airways, Australia's national carrier, Boeing 737-800 aircraft on the tarmac at Adelaide Airport, Australia, August 22, 2018. REUTERS/David Gray/File Photo
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Overview

  • CEO Vanessa Hudson’s short‑term bonus was reduced by A$250,000, with total remuneration reported at A$6.3 million for FY25.
  • The board cut 2024/25 short‑term bonuses for the executive team by 15% following a breach of a third‑party call‑centre platform, and the investigation is ongoing.
  • Qantas says millions of customer records were accessed, with reports citing 5.7 million unique records and about four million exposed, including contact and frequent‑flyer details, with no financial data or flight operations affected.
  • Former CEO Alan Joyce’s 2023–25 long‑term incentive vested, delivering roughly A$3.8 million in shares after performance conditions were met.
  • The airline reported an underlying pre‑tax profit of about A$2.39–A$2.4 billion for FY25 alongside improved operational metrics and a stronger share price.