Saturday, December 2, 2023
Aviation A2Z
  • AME
    • AME Online Classes
    • Concepts
    • Module Notes
    • Exam Updates
  • Aviation Blogs
    JetBlue Spirit Airlines Merger

    JetBlue-Spirit Merger: What Happens Next If Merger Fails?

    Top 10 Airlines by Highest Flight Frequency in the World

    Best Frequent Flyer Programs for the US Travellers

    American Delta United Airlines Don't Provide Flight Ticket Upgrades

    Best and Worst US Airports to Travel on Holiday

    American Airlines New Routes and Destinations

    Oldest Aircraft Still Active in American Airlines Fleet

    This is the Airport that has No Commercial Flights

    This is the Airport that has No Commercial Flights

    Best Credit Cards for American Airlines

    Enhancing Revenue in the Aviation Industry Through Co-branded Credit Cards

    Trending Tags

    • Jobs
    • News
      • All
      • Airline News
      • Airport
      • Aviation News
      • Breaking
      • Cargo
      • Finance
      • Indian Airlines
      • Indian Aviation News
      • International Aviation News
      • US Airlines News
      • USA Aviation News
      108 Canadian Boeing 737 MAX Affected Amid New Issue

      Air Canada Makes New Changes to US Flight Schedule

      Etihad Airways will Deploy its Airbus A380 on Abu Dhabi-London Route

      Etihad to Deploy Its Airbus A380 to New York

      Delta Adds More A350 Flights from Atlanta to Seoul | Exclusive

      Delta to Order A350, A330neo to Launch New Flights to India, Australia and More

      Air India Airbus A350 Made First Ferry Flight from Singapore to France

      Air India Will Display New A350 and 737 MAX at WINGS Hyderabad

      Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues

      Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues

      Qantas Orders 12 New A350 and Boeing 787 each

      Qantas Introduces Clause Addressing Unauthorized Onboard Photography in Quiet Update

      Trending Tags

      • Pilot Corner
        Air India New Rebranded Livery and Logo Disappointed Me: Planespotter

        Air India Initiates New Peer Support Programme for Pilots

        Avelo Airlines Announces New Flights to Las Vegas and Los Angeles from Salem / Portland

        Avelo Airlines Announces New Compensation for its Pilots

        Vistara A320neo Experienced Windshield Crack, Landed back at Delhi

        Vistara Refused Leave to Pilot for Mother’s Medical Check-Up | Exclusive

        Tata-owned Indian full-service carrier Air India (AI) takes the delivery of the second Boeing 777 formerly operated by Etihad Airways (EY).

        Air India Launches New Tool to Enhance Pilot Risk Mitigation

      • About Us
      • Contact Us
      No Result
      View All Result
      • AME
        • AME Online Classes
        • Concepts
        • Module Notes
        • Exam Updates
      • Aviation Blogs
        JetBlue Spirit Airlines Merger

        JetBlue-Spirit Merger: What Happens Next If Merger Fails?

        Top 10 Airlines by Highest Flight Frequency in the World

        Best Frequent Flyer Programs for the US Travellers

        American Delta United Airlines Don't Provide Flight Ticket Upgrades

        Best and Worst US Airports to Travel on Holiday

        American Airlines New Routes and Destinations

        Oldest Aircraft Still Active in American Airlines Fleet

        This is the Airport that has No Commercial Flights

        This is the Airport that has No Commercial Flights

        Best Credit Cards for American Airlines

        Enhancing Revenue in the Aviation Industry Through Co-branded Credit Cards

        Trending Tags

        • Jobs
        • News
          • All
          • Airline News
          • Airport
          • Aviation News
          • Breaking
          • Cargo
          • Finance
          • Indian Airlines
          • Indian Aviation News
          • International Aviation News
          • US Airlines News
          • USA Aviation News
          108 Canadian Boeing 737 MAX Affected Amid New Issue

          Air Canada Makes New Changes to US Flight Schedule

          Etihad Airways will Deploy its Airbus A380 on Abu Dhabi-London Route

          Etihad to Deploy Its Airbus A380 to New York

          Delta Adds More A350 Flights from Atlanta to Seoul | Exclusive

          Delta to Order A350, A330neo to Launch New Flights to India, Australia and More

          Air India Airbus A350 Made First Ferry Flight from Singapore to France

          Air India Will Display New A350 and 737 MAX at WINGS Hyderabad

          Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues

          Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues

          Qantas Orders 12 New A350 and Boeing 787 each

          Qantas Introduces Clause Addressing Unauthorized Onboard Photography in Quiet Update

          Trending Tags

          • Pilot Corner
            Air India New Rebranded Livery and Logo Disappointed Me: Planespotter

            Air India Initiates New Peer Support Programme for Pilots

            Avelo Airlines Announces New Flights to Las Vegas and Los Angeles from Salem / Portland

            Avelo Airlines Announces New Compensation for its Pilots

            Vistara A320neo Experienced Windshield Crack, Landed back at Delhi

            Vistara Refused Leave to Pilot for Mother’s Medical Check-Up | Exclusive

            Tata-owned Indian full-service carrier Air India (AI) takes the delivery of the second Boeing 777 formerly operated by Etihad Airways (EY).

            Air India Launches New Tool to Enhance Pilot Risk Mitigation

          • About Us
          • Contact Us
          No Result
          View All Result
          Aviation A2Z
          No Result
          View All Result

          Home » Qantas Joyce Sold 90% of Its Shares After Airline Shared Flights Cancellation Data with ACC

          Qantas Joyce Sold 90% of Its Shares After Airline Shared Flights Cancellation Data with ACC

          Despite the sale, Joyce retained many shares in the airline, including rights to additional shares and a retention bonus received during the pandemic.

          Shweta Shukla by Shweta Shukla
          November 22, 2023
          in Airline News, International Aviation News, News
          A A
          0
          Qantas to Replace Old Boeing 717 with New Airbus A220

          Photo: Qantas

          58
          SHARES
          WhatsappShare on FacebookShare on Twitter

          SYDNEY- Recent court documents have unveiled that former Qantas (QF) CEO Alan Joyce sold $17 million in shares shortly after the airline provided information on canceled flights to the ACCC.

          The Australian Financial Review reported that Joyce divested the shares, representing over 90% of his Qantas stake, just three days after the airline shared details with the consumer watchdog regarding more than 10,000 canceled flights.

          YOU MAY ALSOLIKE

          Air Canada Makes New Changes to US Flight Schedule

          Etihad to Deploy Its Airbus A380 to New York

          Recent court documents have unveiled that former Qantas (QF) CEO Alan Joyce sold $17 million in shares shortly after the airline provided information on canceled flights to the ACCC.
          Photo: Qantas

          Qantas Ex-CEO Joyce Sold Shares

          According to the documents filed in the Federal Court by the ACCC’s law firm Baker McKenzie, Qantas submitted a spreadsheet on May 29 outlining the flights at the center of the ongoing court action. However, many of these flights were subsequently excluded as customers had been informed within two days.

          Insiders informed the Financial Review that Joyce’s shares, acquired at $1.50 each in 2012, were sold for $6.74 each through ANZ on June 1, resulting in the outgoing Qantas CEO earning approximately $14.8 million.

          Despite the sale, Joyce retained many shares in the airline, including rights to additional shares and a retention bonus received during the pandemic.

          The ACCC had sought cancellation data in September of the previous year, issuing compulsory information notices to Qantas on April 26. Directors are permitted to trade shares unless they are responding to undisclosed information that they know will impact the stock price.

          The matter of Joyce’s stock divestment surfaced during the contentious AGM of the airline on Friday, leading Chairman Richard Goyder to silence shareholder Chris Maxworthy’s microphone when he raised questions on the topic. This action was met with expressions of disapproval from the attendees.

          Recent court documents have unveiled that former Qantas (QF) CEO Alan Joyce sold $17 million in shares shortly after the airline provided information on canceled flights to the ACCC.
          Photo: By Jordan Vuong from Perth, Australia – Qantas 737-800 short final, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=24201981

          Silencing Shareholders

          In a piece for the Financial Review, Maxworthy urged the board to reclaim some of Joyce’s bonuses as a step toward “rebuilding Qantas’ social license.”

          “Up to $16 million of Joyce’s recent performance incentives are currently within the board’s authority to reclaim. If the board aims to restore the airline’s reputation, repudiating a substantial portion of these bonus incentives would be a meaningful starting point,” he expressed.

          “In the court of public opinion, this action would garner strong support and demonstrate that the board is now more attuned to the authentic spirit of Australia.”

          A Qantas spokesperson had previously informed the Financial Review that recent ACCC investigations involving compulsory information notices did not yield any adverse findings.

          “As of August 28, the ACCC communicated in writing to Qantas that it was still finalizing its investigation. The first instance of this issue turning into legal action occurred when the ACCC announced it on August 31,” stated the spokesperson.

          Stay tuned with us. Further, follow us on social media for the latest updates.

          Also Read: US Airlines, Including American, United, Delta, and Southwest, want you to Dress Properly – Aviation A2Z

          Join us on Telegram Group for the Latest Aviation Updates. Subsequently, follow us on Google News.

          Qantas Eyes More New Routes to Europe and the US
          Source: Austalian Aviation
          Tags: ACCCAustralia ACCCAustralia Aviation NewsQantasQantas ACCCQantas ACCC NewsQantas Alan JoyceQantas AustraliaQantas ceoQantas CEO Sold SharesQantas Sold Shares
          SendShare23Tweet15
          Previous Post

          San Francisco CEO Hailed Air India, Highlighted Significance of New Navi Mumbai Airport

          Next Post

          Air India’s Iconic Building Sold to Maharashtra Govt at 1,600 Crores

          Shweta Shukla

          Shweta Shukla

          Journalist - A graduate in India, Shweta has a passion for aviation and travel. She has an interest in Aviation Journalism and she writes articles for Aviation A2Z for 1+ years.

          Related Posts

          108 Canadian Boeing 737 MAX Affected Amid New Issue
          Airline News

          Air Canada Makes New Changes to US Flight Schedule

          December 2, 2023
          Etihad Airways will Deploy its Airbus A380 on Abu Dhabi-London Route
          Airline News

          Etihad to Deploy Its Airbus A380 to New York

          December 1, 2023
          Delta Adds More A350 Flights from Atlanta to Seoul | Exclusive
          News

          Delta to Order A350, A330neo to Launch New Flights to India, Australia and More

          December 1, 2023
          Air India Airbus A350 Made First Ferry Flight from Singapore to France
          Air India

          Air India Will Display New A350 and 737 MAX at WINGS Hyderabad

          December 1, 2023
          Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues
          Airline News

          Aeroflot Boeing 777 Makes an Emergency Landing Due to Technical Issues

          December 1, 2023
          Qantas Orders 12 New A350 and Boeing 787 each
          Airline News

          Qantas Introduces Clause Addressing Unauthorized Onboard Photography in Quiet Update

          December 1, 2023
          Next Post
          Air India’s Iconic Building Sold to Maharashtra Govt at 1,600 Crores

          Air India's Iconic Building Sold to Maharashtra Govt at 1,600 Crores

          Southwest Airlines Boeing 737 from Las Vegas to Chicago Experienced the Tire Burst

          Southwest Pilots Now Has the First Ever Strike Center

          POPULAR NEWS

          American Airlines Flight Diverted to New York Due to Indian Origin Passenger

          American Airlines Cancelling Flights From Austin Airport

          November 19, 2023
          Emirates Eyes Flights to New Emerging Urban Cities of India

          Emirates Eyes Flights to New Emerging Urban Cities of India

          November 3, 2023

          Lufthansa Inaugurates New Flights Between Munich and Bengaluru with A350

          November 8, 2023
          Air India Forms New Interline Partnership with Alaska Airlines

          Air India Forms New Interline Partnership with Alaska Airlines

          November 5, 2023
          Air India to Add 400+ Weekly Flights, 30+ Aircraft, and New Destinations in Six Months

          Air India to Add 400+ Weekly Flights, 30+ Aircraft, and New Destinations in Six Months

          November 17, 2023

          EDITOR'S PICK

          United Airlines Opts Pratt and Whitney GTF for 120 New Airbus A321XLR and A321neo

          United Airlines New Boarding Policy Punishes Passenger

          November 23, 2023
          Dublin Airport Airbrige Collapsed, damaging American Airlines Boeing 787

          American Airlines and Aer Lingus Expand Codeshare with New Flights

          November 2, 2023
          Virgin Atlantic Pilots Might Go On Strike this Year

          Virgin Australia Cabin Crew Apply for New Vote to Strike

          November 12, 2023
          JetBlue A321 Hit By Tug at San Francisco Airport, Flight Delayed by 11 Hours

          JetBlue A321 Hit By Tug at San Francisco Airport, Flight Delayed by 11 Hours

          November 8, 2023
          Aviation A2z

          Aviation A2Z provides the Latest News, Exclusive Blogs, Verified Jobs, and More.

          We are India’s leading aviation organization dedicated towards supporting and helping aviation professionals.

          Categories

          Airline News

          Airport 

          Aviation

          US Aviation

          Indian Aviation

          Recent Posts

          • Air Canada Makes New Changes to US Flight Schedule
          • Etihad to Deploy Its Airbus A380 to New York
          • Delta to Order A350, A330neo to Launch New Flights to India, Australia and More
          • Air India Will Display New A350 and 737 MAX at WINGS Hyderabad

          © 2018-2022 Aviation A2Z - Latest Aviation News

          No Result
          View All Result
          • Home
          • AME
            • Online DGCA lectures
            • Module Notes
            • Exam Updates
            • Concepts
          • Blogs
          • Jobs
          • News
          • Pilot Corner
            • Pilot CPL Classes
          • Resume Builder
          • About Us

          © 2018-2022 Aviation A2Z - Latest Aviation News

          Welcome Back!

          Login to your account below

          Forgotten Password?

          Retrieve your password

          Please enter your username or email address to reset your password.

          Log In

          Add New Playlist