Qantas Spends A$90 Million on Bonus for 28,000 After Wage Freeze
This article is for subscribers only.
Qantas Airways Ltd., which froze all employee wages for 18 months as part of a A$2 billion ($1.5 billion) cost-cutting plan, will pay a A$90 million bonus to its staff amid a profit recovery.
As many as 28,000 employees will receive a one-off payment equal to five percent of their annual base salary shortly after the company releases annual results Aug. 20, Australia’s largest carrier said in a regulatory statement Friday. About A$875 million of the planned savings had been made by its financial year-end of June 30, Sydney-based Qantas said.