In a week or so we will have a better idea.....however it has been said by TLS, ‘we (Qantas) have to plan for the worst’.
Even if a vaccine was proved late this year, there is the issue of global distribution. Vaccine passport anyone? The likelihood of Qantas PLANNING for any long haul schedule in FY21 is slim. This is backed up by Jefferies’ analysis. Of course, they want the flexibility to ramp up though.
They will transfer as much ‘risk’ to employees as possible whilst reducing their own cash burn. This means any non essential RIN will be delayed. 747 RIN will happen. Redundancies will be minimised as they are expensive compared to existing stand down provisions but some will be offered. Some may be forced. Consequently, the majority should expect to be stood down for another year. Qantas’ prerogative is to minimise costs. In the pilot division that doesn’t necessarily mean a massive headcount reduction. It’s not that we’re ‘family’, it’s because it COSTS LESS.
The company and the association have said no decisions have been made. It is absolute rubbish. The management of those decisions are being explored but they have a strategy and just need the board to sign off on it. Making certain your own personal circumstances would be sound advice. Don’t be the one left staring at the headlights.
Unlike the sharemarkets, aviation profit and the success of their workers is not based on sentiment.