Former Qantas CEO Alan Joyce has agreed to pay back $9 million from his final payout, saying the money will be made available to the company as flight vouchers which expired last September.
In a letter to the board, Joyce said he understood the concerns of Qantas shareholders. “I know refunding the money in cash would be more convenient for you, but refunding the money in impossible-to-use vouchers with unreasonable terms and conditions is more convenient for me,” Joyce said.
Joyce said the funds could be accessed by using an 18-digit code which he sent them in an email last week. “Simply open the email (you might need to check your spam folder), click the link, type in the code, and you’ll be able to choose from an incredibly specific range of sold-out flights that leave in 2028″.
Joyce said the fares available using the voucher were priced differently from normal flights. “So, for example, a flight from Melbourne to Sydney might usually cost $150, but when using the voucher it will cost $9 million”.
