Qantas Airways (QAN) will seek shareholder approval to increase the fee pool for its board of directors, despite the airline clashing with unions this week over reports that up to 300 jobs may be on the line at its Avalon maintenance facility.
The airline is seeking to increase the fee pool for its non-executive directors by $250,000 per year, bringing the total fee pool amount to $2.75 million.
The proposal will be put to shareholders at the airline's forthcoming annual general meeting on October 18.
Qantas shareholders approved the current fee pool limit of $2.5 million nine years ago at its 2004 AGM.
"Given the annual aggregate fees paid during the last two years is approaching the fee pool limit, the Qantas board wishes to increase the fee pool," the airline said in a notice outlining the details of the forthcoming AGM.
"Qantas’ current board and committee fees and fee pool have been benchmarked against comparable listed companies," it said.