Joyce has 'no plans to leave' Qantas post

Alan Joyce says he still has work to do despite Qantas maintaining its upward trajectory with a record $668 million first half profit.

Qantas CEO Alan Joyce.

Alan Joyce has dismissed speculation his tenure as Qantas chief executive could soon be over. (AAP)

Qantas chief executive Alan Joyce is basking in the glow of the airline's record first half profit, and plans to stick around for more.

With Qantas having bounced back from a record $2.8 billion loss in 2014 to a $557 million annual profit a year later, some media had speculated whether Mr Joyce would consider his job done.

But the Irishman, who took on the role in 2008, on Tuesday said he still has work to do despite Qantas maintaining its upward trajectory with a record $668 million first half profit.

"I've always said that if I'm enjoying it, I have a lot more to deliver and I still have a passion for the job - and the board and shareholders want me to continue - I'll continue," Mr Joyce told reporters.

"I'm going to be here for some time. There's no plans to leave: there's a lot more to do and I'm very energetic about it."

Shareholders are unlikely to complain.

Qantas still has not paid a dividend since 2008's interim 18 cents per security, but announced a $500 million share buyback that will take the amount of cash returned to shareholders past $1 billion in a year.

Mr Joyce, who joined Qantas in 2000 and succeeded Geoff Dixon as company chief, said he was young enough to continue for some time.

"I'm only 50 this year. I think Geoff Dixon retired when he was 72," Mr Joyce said.

"If I last that long, I'll have another 22 years as CEO, although I don't think I'll last that long."

Mr Joyce attributed Qantas' turnaround in large part to the so-called transformation initiative he implemented two years ago, cutting jobs and costs while investing in new aircraft and customer facilities.

IG market analyst Evan Lucas hailed Mr Joyce's contribution.

"The underlying numbers are really positive," Mr Lucas said.

"Alan Joyce will have a smile from ear to ear with what he can tell you today."


Share
Published 23 February 2016 11:20am
Updated 23 February 2016 3:28pm
Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world