Other Qantas executives and directors are also facing bonus cuts in the wake of the review.
A tranche of incentive-based shares he held in the airline, valued at $8.36 million at the start of the financial year, will be forfeited. A bonus would also be cut by $900,000, Qantas said in a statement on Thursday. Joyce quit Qantas in September, bringing forward his retirement by two months .
A $100 million penalty is awaiting court approval for the flight cancellations, while the airline's breaches of the Fair Work Act are also being determined. "It's clear that we let Australians down. There is still a significant amount of work to be done to rebuild the trust of all stakeholders." — Qantas chairman-elect John Mullen on the findings of the review.
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