Qantas CEO steps down early after turbulent final weeks

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Alan Joyce will leave his post immediately — two months earlier than planned.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

06 Sep 2023

Qantas’ veteran chief executive Alan Joyce announced his early retirement on Tuesday, as Australia’s national carrier faced allegations it sold tickets for flights that had already been cancelled.

The 102-year-old airline has long been seen as a national champion, epitomising globe-trotting Aussies’ sense of adventure and embodying the “Spirit of Australia”.

Irish-born Mr Joyce has been in charge for close to 15 years, often delivering bumper profits for shareholders and safeguarding the airline’s dominant-critics say monopolistic-market position.

But Qantas’ reputation and Mr Joyce’s have been battered since the pandemic-which brought job losses and soaring flight prices despite a Covid-induced multi-billion-dollar taxpayer bailout.

Qantas is currently being investigated for selling 8,000 tickets for already cancelled flights, with a government watchdog seeking record penalties after receiving thousands of consumer complaints.

The 57-year-old CEO had been due to step