Qantas to update investors on COVID battle

Qantas shareholders are due to learn just how much spring has gone from the flying kangaroo as a result of COVID-19.

The airline’s annual general meeting is scheduled for Friday.

Qantas has slashed about 8000 jobs this year after demand for flights plunged due to coronavirus border closures and travel restrictions.

The national carrier last month hinted at relocating and downsizing its Australian offices and aviation facilities to lower costs further.

Chief executive Alan Joyce and chairman Richard Goyder will on Friday update shareholders on progress.

There will be votes on board appointments and executive pay, including whether to approve Mr Joyce’s salary at $2.17 million, plus incentives.

He and other executives took a pay cut last financial year due to the impact of the pandemic.

Management and staff are desperate for all states and territories to open their borders, which would encourage air travel.

New Zealanders have recently been allowed to fly to NSW and the Northern Territory without quarantine. Industry is lobbying the Australian and New Zealand governments to expand the arrangement.

Qantas’ annual general meeting is due to begin online at 1100 AEDT.

Shares in the airline finished on Thursday higher by 1.37 per cent to $4.43.

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