The record annual profit of $1.53 billion at Qantas will also mean a bonus for staff.
The airline is paying a cash bonus totalling $75 million for 25,000 non-executive staff, made up of $3,000 for full time employees and $2,500 for part timers.
The record result bonus, combined with a special cash payment last year, means that $165 million in benefits for non-executives are being paid in just over a year.
In July 2015, Qantas announced that employees covered by a wages freeze policy will receive a bonus payment worth 5% of their base annual salary. About 28,000 Qantas employees benefited at a cost of $90 million.
Of course, management staff and senior executives get rewarded separately. Up to last year, when Qantas posted its best result since the GFC, managers hadn’t had a rise for three years.
CEO Alan Joyce got $11.8 million for 2015 because of the big turnaround at Qantas.
Shareholders today heard they were getting their first dividend payout since 2009. They receive a fully-franked dividend of 7 cents a share, totalling $134 million.
Over the past 12 months, Qantas has completed a $505 million capital return and a $500 million share buy-back.
The improved profitability is on the back of a $2.1 billion transformation program and cheaper fuel prices.
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