What would be revealing is whether Montgomery owned the stock over the preceding 15 years and whether his fund made any money off the back of the share price resurrection from less than $1 a few years back. In other words, is this an epiphany or years of consistent assessment of Joyce's tenure?
He was rubbishing QF 15 years ago with the same rhetoric. Not sure if he changed his mind in the intervening years, at a guess I'd suggest not. It appears he sees through the Joyce spin.
In defence of the airlines though the rest of the world has better tax depreciation scheduling than Australia which is why QF have traditionally had old fleets.