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Qantas boss Alan Joyce's pay hits $13m

AAP logoAAP 2/09/2016

Qantas boss Alan Joyce's annual pay soared to $12.96 million in the year to June 30 as he steered the airline to a record profit.

Mr Joyce was paid a cash bonus of $3.3 million in the year, and awarded shares worth $1.6 million, for exceeding the company's cost cutting targets, delivering on fuel costs and improving customer satisfaction.

That was a big jump from the previous year's $1.9 million cash bonus, and the main factor in Mr Joyce's total remuneration rising from the previous year's $11.9 million.

His base pay was $2.1 million - up from $2 million a year ago due to the end of a period in which he agreed to forego five per cent of base salary.

Mr Joyce also received about $6 million in shares awarded as long-term incentives in previous years.

Qantas recently declared its first dividend for shareholders in seven years after its annual profit jumped 85 per cent to $1.03 billion, due mainly to its major operational overhaul and low oil prices.

All of Qantas' management team received pay rises in 2015/16, with Jetstar chief executive Jayne Hrdlicka earning $4.3 million, up from $3.9 million, and Qantas International boss Gareth Evans $4.4 million, also up from $3.9 million.

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