Qantas boss wins praise as first Project Sunrise plane takes shape

Qantas shareholders have nearly unanimously endorsed the pay packets of Qantas boss Vanessa Hudson and senior management at the company’s annual general meeting, in the clearest sign that they are pleased with the turnaround in the airline’s reputation.

Hudson’s total pay package stood at $6.3 million in 2025, and is typically comprised of a base pay and long-term and short-term incentive schemes.

Shareholders on Friday backed Hudson’s participation in the Long-Term Incentive Plan for the period of 2026-28 by 99 per cent and they also endorsed the advisory board’s guidance on the executive’s 2025 compensation by 92 per cent.

Hudson has made repairing trust within the company and with customers a focus of her leadership, following the acrimonious departure of her predecessor Alan Joyce as CEO in 2023.

“While we are pleased with our progress, we remain focused on further improving our performance and continuing to deliver for our customers, people and shareholders,” Hudson said on Friday.

Qantas shareholders’ appreciation for Hudson has been further buoyed by the fact that the airline’s shares have nearly doubled in price over the past two years. They closed at $9.45 on Friday.

In response to praise from a shareholder over the direction of the company under Hudson, chairman John Mullen said: “We have a fantastic management team. There are no egos, they are humble, they get out and mix with people every day. They know the flight crews, they don’t sit there in isolation in business class.”

He also said directors’ education sessions were held at “every single” board meeting, often involving on-site visits to learn about aspects of Qantas’ operations.

The Brisbane AGM contrasted with the 2023 AGM, when more than 80 per cent of shareholders rejected Qantas’ remuneration plan following a string of controversies, including the illegal sacking of 1800 workers, for which Qantas received a record $90 million penalty in August.

Hudson has prioritised a much-needed refresh of Qantas’ fleet. Earlier on Friday, Qantas disclosed images of the first A350-1000 ULR, built for the Project Sunrise, being transported from Airbus’ factory in Hamburg, Germany, to Toulouse, France, for final assembly.

Qantas expects to begin world-first direct non-stop 22-hour flights from Sydney to London and New York in the first half of 2027.

So far, the forward, centre and rear fuselage sections of the first plane have been assembled along with the wings, tail section and landing gear, the carrier said.

In Toulouse, it will have engines and flight test instruments installed before a test flight program begins in 2026.

The plane is the first of 12 A35-1000 ULR (for “ultra-long range”) aircraft scheduled for delivery late next year.

Project Sunrise builds on Qantas’ historic competency in long-haul travel. Its name is derived from Qantas’ Double Sunrise flights during World War II that helped keep Australia linked to distant allies.

The routes required 24 hours of flying, enough to remain airborne long enough for pilots to see two sunrises.

The A350s will be specially configured for ultra-long haul flights, including a wellbeing zone with handles passengers can use to stretch, guided on-screen exercise programs, as well as a hydration station, and lighting effects to help minimise the disruption to sleep patterns.

On Wednesday, the company revealed plans for its refurbished International Business Lounge in Sydney to feature a 150-square-metre outdoor terrace “in a nod to pre-flight wellness” for Project Sunrise passengers.

The Australia-UK and Australia-US trips, when offered, will be the longest commercial flights in the world, taking the title from Singapore Airlines.

In August, analysts from investment bank Jarden estimated the project could earn more than $400 million on a pre-tax basis per year for Qantas.

Ten Cap portfolio manager Jun Bei Liu said Project Sunrise represented a chance for Qantas to lift its game in its product offerings for the public.

Global airline offerings in the past five years have improved significantly.

“Qantas, to be quite frank, hasn’t really kept up to date with a lot of the capital expenditure,” said Sydney-based Liu.

Like other airlines, it had to weather the tough years during COVID, but now it was time for Qantas to uplift its fleet, Liu said.

If Project Sunrise was successful, she expected the yields to improve, but there was a small chance it wouldn’t be.

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