Virgin boss wins pay wars

Virgin boss wins pay wars
By admin


Virgin Australia chief executive John Borghetti has taken home a bigger pay pack than rival, Qantas’s Alan Joyce, according to news reports.

SMH reports Borghetti took home almost $2.78 million in total salary and bonuses, up $2.66 in the previous year, despite the airline posting a loss of $356 million in the 2013/14 financial year.

Meanwhile, in contrast, Joyce collected a total of just over $2 million and did not gain any bonuses following the record-breaking $2.8 billion loss Qantas reported this year. Last year Joyce took home the title of Australia’s highest-paid airline chief executive.

According to the paper, “Qantas management is attempting to freeze pay across the company as part of efforts to strip $2 billion in costs from the business within three years. It is more than half way through axing 5000 jobs”.

*Image: Bond University

Email the Travel Weekly team at traveldesk@travelweekly.com.au

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