Qantas chief exec to forgo bonus

The head of Australian airline Qantas will forgo his bonus and pay rise for this financial year, as the carrier announced it has forecast a 90 per cent drop in profits for the year ending 30 June. It is understood that chief executive Alan Joyce’s pay will fall to around A$2.5m from A$5m the year before. Qantas has been struggling with increased fuel costs and a weak US and European market.