Joyces' pay rise and bonus foregone..? Not on your life.
Alan Joyce has already pocketed a 71% rise in base pay and bonuses from last year, and statements from him with regard to "forgoing a pay rise and bonus" relates to THIS year.
Having helped themselves to hefty pay rises, this board can easily afford to make "sacrifices" this year as any such extra payment may alienate the institutional investors that currently support them.
It is outrageous that they think this action should be seen as them doing their part and show the way down the austerity pathway.
It would have been better to hand back the previous pay rise and bonuses as these were based on poor KPI's and poor past performance. THAT would have shown the measure of the man to acknowledge that they did not do well at all and did not earn their money.
Not going to happen. THEY know how to run the company.