The CEO and chairman of Australia’s Qantas airline will take no fees and salaries for the rest of the current financial year in a bid to avoid redundancies amid the coronavirus outbreak. The airline announced it would slash its international capacity by nearly 25 per cent over the next six months.
Alan Joyce, the airline’s chief executive, on March 10 announced the cuts as part of sweeping changes in response to a coronavirus-led plunge in passenger demand. In addition to salary cuts, the management team will receive no bonuses, and all staff are being encouraged to take paid or unpaid leave.
