Originally Posted by
43Inches
That's all I was alluding to, all this jumping up and down about Rex when QF has been milking the cash cow as well.
The only one that missed the train was VA, but that was mostly because AJ tore out some tracks in their path by claiming that QF would not need subsidies so why should they get it. Hence why now QF accounts government subsidies under 'customer revenue'.
You wouldn't be making statements like that if you had actually looked at the numbers for the three airlines - Qantas, Virgin and Rex.
For the period 15 March 2020 - February 2022, exclusive of JobKeeper payments
Qantas
Grants .................... $ 785,717,581.59 (35 percent of total assistance)
Subsidies ............... $1,456,530,018.48 (65 percent)
Total assistance ... $2,242,247,600.07
Pre-pandemic
FY19 revenue ....... $17,966,000,000
Total assistance as a percentage of FY19 Revenue ... 12.48 percent
Virgin (aka "The only one that missed the train")
Grants .................... $ 238,745,905.29 (27.6 percent)
Subsidies ............... $ 626,970,954.33 (72.4 percent)
Total assistance ... $ 865,716,859.62
Pre-pandemic
FY19 revenue ....... $ 5,827,100,000
Total assistance as a percentage of FY19 Revenue ... 14.86 percent
Rex
Grants ................... $ 154,816,418.00 (99.2 percent)
Subsidies .................. $ 1,292,544.00 (0.8 percent)
Total assistance ... $ 156,108,962.00
Pre-pandemic
FY19 revenue ....... $ 317,649,000
Total assistance as a percentage of FY19 Revenue ... 49.15 percent
Far from missing the train, Virgin have actually received more than Qantas in terms of support as a percentage of pre-pandemic revenue. And as a proportion of pre-pandemic revenue, Rex has received more government assistance than both Qantas and Virgin combined! And note that essentially all of Rex's assistance came by way of grants (money for nothing) rather than subsidies (money for or to support operations).
So, let's not try to dress this up as everyone having the same go at milking the cash cow.