Qantas Airways Chairman Under Fire Over Morale, Union Demands Resignation

Qantas Airways Ltd.'s QABSY Chairman Richard Goyder is facing calls for his resignation from a pilots union over downbeat company morale.

The Australian and International Pilots Association (AIPA), which represents most of Qantas' roughly 3,000 pilots, wrote to the airline's new CEO, Vanessa Hudson, demanding that Goyder resign, according to a Reuters report.

"We have totally lost confidence in Goyder and his board," AIPA President Captain Tony Lucas said in a statement to Reuters.

The company was recently in the headlines after reports emerged that former CEO Alan Joyce saw a significant increase in his pay, rising by 872% in FY23, as he cashed in long-term incentives upon retiring. In the previous year, his total pay was A$2.3 million.

Related: Qantas' Ex-CEO Takes 900% Salary Hike But Faces Bonus Reduction Due To Scandal: Report

Goyder, who has served as the airline's chairman since 2018, will not stand for re-election at the upcoming annual meeting scheduled for November, the report added.

On Monday, the company reportedly said it wants to allocate additional funds for addressing "customer pain points" beyond its initial plans, according to Reuters. However, it cautioned that the escalating fuel costs might necessitate fare increases, even as prices are already high, the report added.

Price Action: Shares of QABSY were down 1.22% to $16.40 on Tuesday. 

Also Read: Qantas Sees Airfares Moderating As Capacity Returns To Pre-COVID Levels: Report

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