The executives were signed up to the 'pay freeze'.
- The executives quietly slipped into the LTIP.
- The 'staff' lacking LTIP took the freeze
- The options were written at sub $1.00
- The vesting date just 'coincidentally' was after Mr Joyce miraculously indicated Qantas would again be 'transformed'
- Write down of CGU (long haul fleet) leads to paper loss
- Business recovers..
Amazing.
Any serious regulator would find it worthy of investigation but regulators are empty suits.