TWU has urged shareholders to be allowed to vote on the reinstatement of workers who have been outsourced by the airline at tomorrow’s crucial shareholders meeting.
It follows last year’s federal court ruling that the Flying Kangaroo wrongly outsourced 2,000 ground handling tasks and subsequently dismissed the first appeal.
The union initially pushed for staff to be allowed to return to their old jobs, but a judge said a return was impossible as the airline had already disbanded its Qantas ground service team and offloaded its equipment.
On Thursday, TWU national secretary Michael Kaine said: “Shareholders should be able to cast real votes on the airline’s future under a new CEO, the reinstatement of illegally laid-off workers and an appropriate performance-based bonus structure that reflects the past year of total.” Chaos.
Instead, regardless of how shareholders vote today, Alan Joyce will walk away millions of dollars richer despite systematically destroying a once iconic brand.
“Meanwhile, after two years of pay freezes, the workers who have kept the airline afloat are still struggling.”
Compensation for the outsourced workers is due to be decided at a hearing in December, but Qantas has already appealed the ruling again, this time to the High Court.
It comes after it was revealed this week that one of the big three “proxy firms” representing Qantas shareholders recommended investors turn down one of CEO Alan Joyce’s bonus packages.
The Australian Financial Review reported that ISS told its members ahead of the AGM that its goals were not “challenging enough”.
Qantas responded that Joyce was the only CEO of the ASX 100 not to receive a bonus in three years, adding that the group was the only proxy advisor to take such a stance.
“All other key shareholder advisors — CGI Glass Lewis, Ownership Matters, ACSI and the ASA — support the FY22 Compensation Report and Incentives,” it said.
The disagreement concerns the shorter-term “board retention program” whose goals include keeping Qantas’ net debt below a target level; $1 billion cost reduction through June; and to make the entire company profitable again by the end of the current financial year.
If these goals are met, Joyce would receive approximately $4 million in stock at current prices.
The dispute comes despite Qantas revealing this month that it was on course for a remarkable turnaround that will target underlying profit before tax of up to $1.3 billion in the first half of the current fiscal year.