Murray Olds: Australian correspondent on Qantas slashing former CEO's exit paycheck - Heather du Plessis-Allan Drive

Australian airline Qantas has slashed former CEO Alan Joyce's exit package, following a stint of costly scandals and legal cases.

The $21.4m payout Joyce was due to get after leaving the company last year will be cut by $9.26m, the company told investors.

Australian correspondent Murray Olds says this follows a rough business period for the airline.

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