The Chairman’s Lounge: Did Alan Joyce really destroy Qantas?

Investigative journalist Joe Aston’s “blistering exposé" on the machinations of former Qantas CEO Alan Joyce and Chairman Richard Goyder in The Chairman’s Lounge sparked controversy for its precise accusations of greed at the expense of customers and staff through the pandemic.

The most common questions I’ve been asked in the past three months are, ‘Have you read The Chairman’s Lounge?’ and ‘What did you think of it?’. To be blunt, Aston’s chronicling of Qantas’ survival of the pandemic and then many challenges and failings on the road to record profits was like revisiting a nightmare for me.

the book cover of The Chairman's Lounge inside story of how Qantas sold us out by Joe Aston — *The Chairman’s Lounge* by Joe Aston. (Image: Simon & Schuster Australia)

Firstly, don’t hate me, but I have sympathy for Alan Joyce

Remembering the pressure of those COVID times for me and my business makes me feel sick. I have great empathy for any travel executive or operator, Joyce included, who was forced to make decisions when faced with these unique and unprecedented challenges. Every interaction either personally or at events I attended with Joyce led me to believe he really did care about the Qantas brand, customers and most of all, people. Most of the Qantas staff I spoke with, particularly prior to 2021, felt very positive towards him. Joyce’s achievements are now largely forgotten and in their place are the disastrous last years of his tenure.

the front page of ABC Media Watch featuring Former Qantas CEO Alan Joyce — An ABC Media Watch segment on former Qantas CEO Alan Joyce.

And for Aston, a well-known Joyce-hater (he denies this, a claim not many, me included believe) and poison pen columnist, to write his Qantas obituary as a 332-page “scathing, unflinching takedown" is a shame. He damns Joyce with faint praise and diminishes many of his achievements. Aston appeared to take delight in flaying Australian executives in public while his ability to run a business has never been tested.

How can he really sit in judgment when he has not sat in the chair? In my experience, and to quote renowned business podcaster Scott Galloway, “Boards and CEOs are never as dumb as you think they are and you are never as smart as you think you are".

Investigative journalist Joe Aston and author of *The Chairman’s Lounge*. (Image: Stephen Blake)

I enjoyed the read but I feel Joyce deserved a more even-handed telling of his story.

Stranger still for me, I attended many of the events noted in the book. Just as the wheels were starting to come off for Joyce and the Qantas brand, one particular interaction I had with former Chairman Richard Goyder distils the entire 2020 – 2023 episode into one fateful sentence.

Qantas CEO Vanessa Hudson sitting beside Alan Joyce — Qantas CEO Vanessa Hudson alongside Alan Joyce.

“We ripped $1 billion of costs out of the business."

This was Goyder’s response to me on the 23^rd of June 2022 in Perth. I happened to be standing in line with him at a cocktail event to celebrate the inaugural Perth to Rome flight scheduled to take off the next day. I said I wanted to have a better business coming out of COVID and I asked, “Do you think Qantas is?" He replied in a nanosecond: “Mate, absolutely. We ripped $1 billion dollars of costs out of the business."

I was shocked. Goyder unequivocally equated stripping out $1 billion dollars in costs with a better business. Yet the media world was awash with negative Qantas stories: lost baggage, inability to use credits, hours-long wait times on call centres, flight cancellations.

Roy Morgan has just reported the Qantas brand had slipped from the 6th most trusted brand in the country to the 16th in just three months. (It was just the beginning of the brand freefall from highly trusted to almost least trusted).

Meanwhile, the courts had decided that Qantas had illegally sacked its international ground-handling staff. Yet Goyder was absolutely convinced that Qantas was a better business as evidenced by the reduced costs.

Mr Joyce's successor Vanessa Hudson on Australian Financial Review front page — Joyce’s successor Vanessa Hudson will have to overhaul the fleet.

So what actually did Joyce and Goyder do to “sell us out"?

Aston details many crimes and misdemeanours in The Chairman’s Lounge. These are probably the four most egregious found in the book.

1. Airfare credits were treated like a free loan

Qantas failed to tell customers they were entitled to a cash refund until the Australian Consumer Commission (ACC) instructed them to be more transparent. Then the refund option was buried in the communication to customers and by virtue of chronic understaffing, made hard to get.

2. Illegally sacking baggage handlers in 2020

Not only was this illegal, but a bad decision made even worse by Joyce and his in-house legal execs’ intransigence and arrogance insisting on launching appeals within an hour of a judgement. They did not pause to absorb a judgement that clearly indicated they were legally “cooked", to use a technical term.

Aston suggests the appeals were not designed to necessarily win but to delay any compensation payments to boost profits and Joyce’s bonus in 2023.

3. Claiming to have not collected bonuses to only come back and collect them later

In 2023 Joyce was intent on collecting delayed long-term bonuses from 2021 and 2022 when the airline was making huge losses which he had claimed to have forfeited.

For clarity, Qantas’ losses were $1.7 billion and $1.8 billion in 2021 and 2022.

4. Stripping $1 billion in costs for bonuses while ruining the product

As evidenced by my conversation with Goyder, Qantas didn’t let the COVID crisis go to waste.

Not only did Joyce illegally achieve the cost savings in the case of the baggage handlers, but he also failed to make provisions for the return-to-service costs in staffing, training, and actual hardware.

The disastrous under-investment in customer experience triggered the brand freefall.

Is The Chairman’s Lounge a fair report?

former Qantas CEO Alan Joyce with the Qantas team — Former Qantas CEO Alan Joyce with the Qantas team. (Image: Quentin Long)

Many CEOs would think spinning the message, striving to reduce costs and investment to boost short-term profits to inflate your own bonuses or even claiming historical unpaid bonuses from loss-making years in future profit-making years as relatively normal in the no-holds-barred world of capitalism and free markets. It doesn’t pass the pub test and disgusts me, but many, many CEOs have been far more greedy, ruthless and jaw-droppingly self-serving.

Full-contact capitalism only works when the right guardrails are in place. In this case, it was reassuring that one arm of accountability, the law, turned up and adjudicated the illegal sacking of workers.

But why did it take a union to roll the dice in court, three times, to be the only guardrail for what seemed an exhaustive list of line calls at best, outright greed and disgust for customers at worst?

Aston correctly points out that the guardrails for these decisions were the remit of the Qantas board and, again correctly, in particular Richard Goyder.

Goyder eventually fell on his sword as well, departing 16 September 2024.

Qantas flies up and on

the Qantas plane at sunset — Qantas continues to fly despite its brand challenges. (Image: Getty/SCM Jeans)

As for our national carrier? Well, Joyce definitely didn’t kill it as Qantas is still flying.

On the 4th September 2023, the day before Joyce’s early departure, the Qantas share price closed at $5.65.

On the 16th September, when Goyder left it closed at $7.03.

At the time of writing in January 2025 it is trading at $8.86 off a record high of $9.40 on the 13th  January 2025.

So it is healthy financially (some would say more than when Joyce was in charge).

There is still some way to go for the national carrier to restore public trust. That’s the nature of trust: easy to lose, hard to regain. According to Roy Morgan, in December 2024 it was fourth in the most distrusted brands. Aussies love Qantas which is why it hurts even more when the flying kangaroo lets us down. But the nadir has been reached (well it appears to have been). In the fullness of time, I think we will fall back in love.

From thundering waterfalls to ancient Indigenous art, Kimberley’s raw beauty will take your breath away.

Wild, pristine, and shaped by nature, the Kimberley Coast is one of Australia’s most spectacular landscapes. A remote and rugged frontier that remains a bucket list destination for many travellers. Its most breathtaking attractions – including Montgomery Reef, King George Falls and Horizontal Falls – are accessible only by sea or air, making a guided expedition cruise aboard Silversea’s luxury expedition ship, Silver Cloud, the ideal way to explore it.

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Why Silversea?

Silversea offers a 10-day expedition departing Broome, or an extended 16-day expedition voyage from Indonesia, including landings on the hidden gems of Palopo Sulawesi and Komodo. Accompanied by expert guides and specialists in marine biology, history and geology, guests gain a deeper understanding of the Kimberley’s dramatic landscapes, rich cultural heritage and extraordinary biodiversity.

Silversea offers one of the experiential travel industry’s leading crew-to-guest ratios. Along with all-suite accommodation (80 per cent with private verandah), 24-hour butler service, a swimming pool and four dining options. Silver Cloud also has an experienced crew of multilingual expedition guides and specialists in marine biology, history and geology to enhance your Kimberley Experience.

silversea cruise ship pool deck — Take a dip in the pool deck.

1. Koolama Bay

Before visitors see King George Falls, they hear them – a growing rumble in the distance, steady and foreboding as the Zodiac glides through the gorge, the sound echoing off sheer rock formations. At 80 meters tall, the twin cascades carve through the red cliffs, churning the waters below in a spectacular finale – but Koolama Bay holds secrets beyond its striking scenery.

Named after a ship that beached here following an aerial attack by Japanese bombers in World War II, the bay may seem desolate, yet it teems with life. With Silversea’s expert guides on their 10-day Kimberley itinerary, guests gain a sharper eye for its hidden wonders – rock wallabies darting across the cliffs, crocodiles lurking among dense green mangroves, and high above, the silhouette of a bird of prey circling the sky.

King George Falls at koolama bay excursion on Silversea Kimberley Cruise — Take a shore excursion to see King George Falls.

2. Freshwater Cove / Wijingarra Butt Butt

Connect with Country on a wet landing at Freshwater Cove, also known as Wijingarra Butt Butt. Considered one of the most special experiences on both the 16-day and 10-day Kimberley cruises, Silversea guests are welcomed by the traditional Indigenous custodians of the land, painted with traditional ochre, and invited to take part in a smoking ceremony.

Located on the mainland near Montgomery Reef, Wijingarra Butt Butt holds deep cultural significance to the local Indigenous community. Here, rock formations along the shore represent spiritual ancestors, and guests are guided to a nearby rock overhang filled with ancient art, where traditional owners share the stories and meaning behind these sacred paintings.

welcome to country on freshwater cove during silversea kimberley cruise — Take part in a smoking ceremony. (Image: Tim Faircloth)

3. Vansittart Bay (Jar Island)

Modern history, ancient culture and mystery converge in Vansittart Bay, which is also known as Jar Island. Here, the first thing to catch the eye is the dented, silver fuselage of a World War II-era C-53 plane – a striking relic of the past. Yet, the true cultural treasures lie just a short hike away where two distinct styles of Indigenous rock art – Gwion Gwion and Wandjina – can be found.

The Wandjina figures, deeply connected to Indigenous traditions, stand in stark contrast to the enigmatic Gwion Gwion (Bradshaw) paintings, which date back more than 12,000 years. Significantly different in form and style, the two different styles create a striking juxtaposition, offering a rare glimpse into the region’s rich and complex past.

aerial view of Vansittart Bay, See it in you Silversea Kimberley Cruise. — Explore ancient Gwion Gwion rock art at Vansittart Bay. (Image: Janelle Lugge)

4. Horizontal Falls

Part illusion, part natural phenomenon, the Kimberley’s much-lauded Horizontal Falls aren’t a waterfall, but a tidal and geographic spectacle that visitors have to see to comprehend. Known as Garaanngaddim, the phenomenon occurs when seawater rushes through two narrow gaps- one just twenty metres wide, and the other seven metres in width, between the escarpments of Talbot Bay.

With each tidal shift, the force of the water creates whirlpools, furious currents and the illusion of a horizontal cascade as thousands of gallons of water are pushed and pulled in through the gap every six hours with relentless movement, making this one of the Kimberley ’s most mesmerising natural wonders.

Horizontal Falls are described as "One of the greatest wonders of the natural world". They are formed from a break in-between the McLarty Ranges reaching up to 25m in width. The natural phenomenon is created as seawater builds up faster on one side of the gaps than the other, creating a waterfall up to 5m high on a King tide. — Watch whirlpools and furious currents collide. (Image: Janelle Lugge)

5. Montgomery Reef

As the tide turns in Montgomery Reef, magic happens. With the Kimberley’s legendary tides varying up to ten metres, at low tide the submerged reef almost appears to rise from the depths: exposing up to four metres of the sandstone reef.

The impact is otherworldly: as the water drains, waterfalls cascade on either side of the channel, turtles left exposed scramble and dive, and fish leap in search of sanctuary in shallow pools. Meanwhile, the dinner bell rings for the migratory seabirds dugongs, reef sharks and dolphins that scavenge and feast in the area.

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aerial view of boat going along Montgomery Reef — Witness seabirds, dolphins and reef sharks on the hunt.

6. Mitchell Falls by Helicopter

Experiencing the Kimberley by sea allows you to feel the power of the tides, but travelling by helicopter reveals the sandstone tapestry of the Kimberley, a landscape geologists believe is over 1.8 billion years old.

One of Silversea’s most popular optional excursions , guests who opt to fly into the interior from the onboard helipad soar up above the rust-coloured landscape of the Mitchell plateau, taking in one of Australia’s most scenic waterfalls: Mitchell Falls, a series of four emerald-coloured pools gently cascades into each other, before plunging down to the river below.

Seeing the landscape from above reveals a landscape weaved and shaped by the power of the freshwater wet season, juxtaposed to the constant lapping of the relentless and powerful tide on the coast.

aerial view of mitchell falls on silversea helicopter excursion — See emerald pools cascade into the river below. (Image: Tim Faircloth)

7. Indigenous Art Caves, Wandjina Art

The Kimberley Region of Western Australia is home to some of the most striking and significant

Indigenous rock art in Australia. Dotted throughout the landscape are caves, cliffs and rock overhangs depicting the striking, ethereal image of Wandjina, the rainmaker spirit and creation being central to many of the Dreamtime stories in this region.

Some of the paintings are regularly repainted by traditional custodians, while others are believed to be over 4,000 years old. Each artwork serves as both a cultural record and a living connection to the past, offering a rare opportunity to engage with the enduring traditions of the Kimberley’s Indigenous communities.

Freshwater Cover Rock Art the kimberleys — Walk among cultural records preserved in stone. (Image: Tim Faircloth)

See the best of this incredible part of the world on a Silversea Kimberley cruise. Book your 10- or extended 16-day expedition voyage at silversea.com