But the energy and shipping industries are ill-prepared, say analysts, with refiners likely to struggle to meet higher demand for cleaner fuel and few ships fitted with equipment to reduce sulfur emissions.
In January this year, Lightweight Leigh Clifford sat straight faced claiming the QSA1992 was the reason for the lack of a new fleet. Thai Airways didn't struggle for 'capital' their A350 fleet is operational. Instead QF chose to spend over $ 2 billion buying on market their own shares.
10 years Little Napoleon has sat in the big chair. Not a solitary aircraft ordered for QF (other than those Mr Dixon ordered well over a decade ago!)
In the same period JQ have had a 110 aircraft order, to replace a fleet substantially younger than that from which it borrows so much. Generating 31% of the revenue, flying 48% of the ASK is hardly efficient. Accounting fudges aside, JQ grew to be larger than the parent. Yet it can't generate more than one third of the revenue.
It is worth noting that Little Napoleon's tenure has coincided with the GFC. With emergency interest rates persisting for a decade, is it any wonder that QF can get away with it?
Low interest rates remove the necessity for strategic thinking. Companies do not need to be disciplined, as the risk of error is low (in terms of interest)
Is it just dumb luck that saw a lightweight chairman (self confessed) and his side kick at the helm?
Whether it is shortage of middle distillates, pollution or simple fuel expense, Qantas is vulnerable.
10 years in the job and a vocal SSM campaign is hardly the stuff of legend, no matter what he tells himself looking in the mirror.
Qantas need a new fleet.