Former Qantas CEO Alan Joyce was paid $21.4 million in the last financial year, but more than half could be subjected to a clawback by the airline's board.

The airline has posted its highly anticipated annual report this afternoon, confirming Mr Joyce's final payout.

But $14.4 million of Mr Joyce's total pay could be clawed back by Qantas' board "if considered necessary", including $8.3 million worth of previously-awarded long-term bonuses, and a $2.2 million short-term bonus.

Qantas is withholding all short-term bonuses for senior executives, including Mr Joyce, while the ACCC investigates claims the airline sold tickets for already-cancelled flights.

Mr Joyce retired from Qantas earlier this month, with Vanessa Hudson taking over as CEO on September 6.

The annual report comes a week after the airline was found by the High Court to have illegally sacked 1,700 ground staff in 2020.