Australia's Qantas lashed by shareholders after turbulent year

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Shareholders of Australia's Qantas Airways (QAN.AX) voted overwhelmingly to reject the airline's executive pay plans at its annual meeting on Friday, a final show of frustration after one of the company's most reputationally damaging years.

An Airbus A350-1000 test plane arrives at Sydney Airport as the backdrop for Qantas announcing an order for 12 of the planes in Sydney, Australia May 2, 2022. REUTERS/Jamie Freed/File Photovoted overwhelmingly to reject the airline's executive pay plans at its annual meeting on Friday, a final show of frustration after one of the company's most reputationally damaging years.

"This is obviously a very clear message from shareholders," Chairman Richard Goyder told the meeting in Melbourne after two and a half hours of shareholder questions about customer service and workplace controversies at the airline. Long one of Australia's most respected brands, Qantas saw its CEO retire early and Goyder quit, effective 2024, after the competition regulator sued the airline in August over selling tickets to thousands of already-cancelled flights after borders reopened in 2022. Qantas is defending the lawsuit.

 

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