English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Qantas makes A$90 million bonus payment

PRESS RELEASE

July 02, 215: Qantas Airways Limited today announced a one-off bonus payment will be made to all employees covered by an 18-month wage freeze policy as part of their collective agreement.

The bonus payment will be made to up to 28,000 Qantas Group employees, costing an estimated $90 million on full implementation. It is anticipated that the non-recurring cost of up to $90 million will be recognised in the Group's 2016 financial year, outside of underlying earnings.

All Qantas, Jetstar, and other Group employees covered by finalised Agreements that include the wage freeze will receive a one-off payment worth five per cent of their base annual salary. The payment to eligible employees will be made shortly after release of the Group's full year results on 20 August 2015.

Bonus payments for employee groups not currently covered by the wage freeze policy will be made once Agreements including the wage freeze are finalised. This bonus does not extend to employees who are part of management bonus schemes, which will be determined separately.

Qantas Group CEO Alan Joyce said the bonus was recognition of the contribution made by all employees to strengthening the Group's long-term competitive position through the wage freeze and the delivery of all Qantas Transformation targets on or ahead of schedule.

"The rapid turnaround of the Qantas Group has only been made possible through the dedication and hard work of all our people," said Mr Joyce.

"Our ability to make these bonus payments reflects a bright future for the Qantas Group, provided we stay focussed on fully delivering the transformation program that has brought us this far."

Qantas expects to have realised at least $875 million of the targeted $2 billion of benefits in the Qantas Transformation program as of the end of financial year 2015.

More News

Written on 21/11/2017, 15:20
freightweek-news-update-week-47ZEEBRUGGE, Belgium: November 21, 2017. P&O Ferries says its new box route between the UK ports of Hull and Zeebrugge, Belgium has seen 14,804 lifts...
Written on 18/11/2017, 22:25
crowley-supports-puerto-rico-power-restorationSAN JUAN, PR: November 17, 2017. Puerto Rico's Electric Power Authority director Ricardo Ramos resigned today as the government acknowledged that only...
Written on 18/11/2017, 16:13
emirates-skycargo-signs-ecommerce-mouDUBAI: 18 November, 2017. Emirates SkyCargo has signed an MoU with Dubai CommerCity (DCC) – a free zone dedicated to eCommerce in the MENA...
Written on 17/11/2017, 23:08
qantas-plans-mustard-power-for-trans-pacificSYDNEY: November 18, 2017. Qantas is to operate the world's first bio-fuel B787-9 flight between Melbourne and Los Angeles next year based on Brassica...
Written on 17/11/2017, 20:43
yusen-buys-tibbett-logistics-in-romaniaWOODFORD GREEN, UK: November 17, 2017. The Keswick Enterprises Group is selling its Romanian Tibbett Logistics subsidiary to Amsterdam-based Yusen...
Written on 17/11/2017, 19:33
walmart-and-j-b-hunt-to-test-teslaLOWELL, AR: November 17, 2017. U.S. logistics company J.B. Hunt Transport Services has made multiple reservations at US$5,000 each for new Tesla 'Semi'...
Written on 14/11/2017, 17:49
port-record-prompts-savannah-rail-expansionSAVANNAH, GA: November 13, 2017. The Georgia Ports Authority (GPA) has approved a further US$42.27 million for its US$128 million Mason Mega Rail...
Written on 13/11/2017, 22:01
freightweek-news-update-week-46ASHBY-DE-LA-ZOUCH, UK: November 16, 2017. CEVA Logistics has added to its investment in pharmaceutical logistics with the opening of a fully refurbished...
Written on 13/11/2017, 20:56
amerijet-adds-to-sales-network-and-b767-fleetMIAMI: November 13, 2017. Amerijet International is due to take delivery of another B767-300 from Cargo Aircraft Management, a subsidiary of the...
Written on 10/11/2017, 21:36
turkish-cargo-q3-revenue-jumps-40-percentISTANBUL: November 09, 2017. Turkish Airlines has reported Q3 revenue of US$3.6 billion, an operating profit of US$1.07 billion and a net profit of...
Written on 10/11/2017, 18:00
ironhorse-joins-fedex-on-mexico-borderSANTA TERESA, NM: November 08, 2017. Ironhorse Resources, parent company of five shortlline U.S. railroads including the Santa Teresa Southern Railroad...
Written on 09/11/2017, 22:02
four-logistics-hubs-for-heathrow-s-third-runwayLONDON HEATHROW: November 08, 2017. In anticipation of government approval to build its third runway, Heathrow has published a list of 65 so-called...
Written on 09/11/2017, 01:25
fedex-signs-atr-freighter-orderTOULOUSE, November 08, 2017. FedEx Express has signed a contract with ATR to purchase 30 ATR 72-600F freighters plus 20 options. The price was not...
Written on 08/11/2017, 20:04
astral-aviation-working-for-africa-s-progressABIDJAN/NAIROBI: November 08, 2017. The Green Climate Fund (GCF), set up as a result of the UN Paris Agreement, has partnered with the African Development...
Written on 07/11/2017, 22:53
maersk-maneuvers-for-logistics-management-futureCOPENHAGEN: November 07, 2017. A.P. Møller – Mærsk has reported a 14 percent rise in Q3 revenue to US$8 billion; EBITDA earnings of US$978 million; and...
Written on 07/11/2017, 21:34
lng-to-power-cma-cgm-orderMARSEILLE: November 07, 2017. CMA CGM says its order for nine 22,000 TEU containerships with the first due for delivery in 2020 will be powered by...
Written on 07/11/2017, 20:22
ups-joins-blockchain-allianceATLANTA: November 07, 2017. UPS has joined the Blockchain in Trucking Alliance (BiTA), a forum for the development of blockchain technology standards and...
Written on 06/11/2017, 20:46
freightweek-news-update-week-45DUBAI: November 12, 2017. Emirates has ordered 40 B787-10 aircraft valued at US$15.1 billion (AED 55.4 billion) for delivery beginning in 2022. Read...
Written on 03/11/2017, 22:27
turkish-cargo-benefits-from-envirotainer-accreditationSAN FRANCISCO, November 01, 2017. The Bio Supply Management Alliance (BSMA), a community of supply chain professionals in the biotech, biopharma, and...
Written on 03/11/2017, 21:16
etihad-to-cancel-dallas-serviceABU DHABI: November 02, 2017. Following American Airlines' decision to end code share agreements with Qatar Airways and Etihad Airways next year, Etihad...

- powered by Quickchilli.com -