Qantas CEO Alan Joyce Has Handed Back His Salary And Is Preparing For A Recession "Worse Than The GFC"

"It's going to be a BIG recession"


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The CEO of Qantas, Alan Joyce, joined Triple M's Hot Breakfast this morning with a frank, clear, but not very positive outlook for the world.

"It's going to be worse than the GFC. It's going to be a BIG recession."

Joyce and his management team are preparing for the worst, based on all the government and economic advice and modelling. They have had to cut down scheduled flights by 60%, which means "two-thirds of our employees have had to be stood down"

He explains how The Flying Kangaroo are helping their team, with lots being able to take leave or go into negative leave and there are also reports of Qantas trying to work with other corporations to transfer team members for a time until flights are back running and things get closer to normal. 

Joyce also confirmed with Eddie McGuire that he and his whole management team have handed back their salaries until July at least. 

Listen to the full chat here:

Matt Bellotti

19 March 2020

Article by:

Matt Bellotti




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