07 October 2008

Qantas CEO disembarks with a fortune

SYDNEY - Departing Qantas boss, Geoff Dixon will have a lot of excess baggage to contend with when he steps down next month ââ¬' his final yearââ¬â¢s salary package.

Dixon will leave as the second-highest-paid airline boss in the world, beaten only by the head of America's second-largest airline, United Airlines.

Analysis by the Sydney Morning Herald shows Dixon's package of almost A$12 million this year dwarfs the salaries of his European counterparts and all but one of those in the US even though Qantas ranks as only 10th-largest airline in the world.

Dixon's package is beaten only by that of Glenn Tilton, the boss of UAL Corp, whose largest subsidiary is United Airlines.

Tilton took home $US10.3 million last year, including a base salary of $US850,000 and $US4.7 million in share awards.

Dixon's total package of $11.92 million (US$8.6m) for the year to June included a cash bonus of A$3 million and almost A$6.4 million in share-based payments, the Qantas annual report shows.

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