Originally Posted by
Rated De
Thanks for the insight moa999.
Qantas uses selective metrics to weave fanciful tales of JQ..Nothing wrong of course with Qantas buying the aircraft and leasing to JQ The interesting quesiton is what JQ pay for the leases..Again Qantas can do what it likes, however to use it industrially (if the leases as mate's rates) is disingenuous. .No depreciation helps a lot carry the narrative when the depreciation sits almost entirely in the Qantas segment; an important distinction when comparing use and control of assets.
The stunning 'transformation turn around' consisted of when I read the P and L:
- Fuel down $597 million (due lower fuel prices)
- Depreciation down $326 million (bought about by fleet impairment the previous FY)
- A few sundry items
There is the stunning turn around 'profit', anything i missed moa999?
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Although off topic a bit what is not talked about is the urgent need to upgrade the fleet.
12 A380s probably Max another 8 years
10 747s passed their used by date IMO max 8 years
28 A330s I don’t know what their use by date is but suspect some must be close to it.
73 737s I suspect the oldest of these are close to retirement.
All in all a lot of new Aircraft are needed, the reality is they are desperately short of wide body Aircraft both for domestic use and to reduce utilisation internationally and try and get some reliability back in the system. Currently it is a shambles. IMO the place at the moment is a house of cards going from one crisis to another every day. Breakdowns, no Captains, no FOs, staff flogged Aircraft flogged , customers treated appallingly.