"The board looks at succession each year at almost every meeting, but specifically twice a year," Chairman Richard Goyder told shareholders at the company's annual meeting in Sydney.

"The board feels we are in good shape for CEO succession as and when that will occur."

Joyce has been the airline's boss for nearly 14 years, making him one of the longest-serving CEOs of a major Australian company.

(Reporting by Jamie Freed; Editing by Himani Sarkar)