Australian Airline Qantas Chief Executive Joyce to Leave Post Early

Sydney — Qantas chief executive Alan Joyce on Tuesday announced he would retire two months earlier than originally planned to allow the Australian carrier to "move ahead with its renewal" after a week of turmoil for the airline.

Current chief financial officer Vanessa Hudson, who was set to take over following the 2023 Annual General Meeting in November, will now replace Joyce on Wednesday this week.

"In the last few weeks, the focus on Qantas and events of the past make it clear to me that the company needs to move ahead with its renewal as a priority," Joyce said in a statement.

"The best thing I can do under these circumstances is to bring forward my retirement and hand over to Vanessa and the new management team now, knowing they will do an excellent job."

The announcement comes after a troubling week for Australia's flagship airline.

On Thursday, Australia's consumer watchdog ACCC launched action in court alleging Qantas engaged in "false, misleading or deceptive conduct," by advertising tickets for thousands of flights that it had already cancelled but not removed from sale. Local media reported the company is facing a potential $250 million Australian ($161 million US) fine.

The Australian government meanwhile has been under fire for a decision in July to reject a proposal by Qatar Airways to add extra Australian routes, which could have reduced airfares and boosted the tourism industry by an estimated $788 million, according to local media.

The rejection came under scrutiny after it emerged that Qantas lobbied the Australian government to do so before posting a record $2.5 billion profit over the 2022/23 financial year, which ended on June 30, a significant turnaround from the underlying loss before tax of $1.86 billion 12 months earlier.

Hudson will be the first female boss of the carrier in its 103-year history.

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