Further proves that the sky high margin targets that Joyce put on each business in 22/23 was only going to be achieved by screwing its employee base over, again and again. Now that is somewhat being unwound, those targets won’t be met, and so they shouldn’t be.
VH dodged questions today and carefully worded those from analysts when asked about those margin targets that so much emphasis was put on in the last two FYs. The reality is, only Jetstar has hit those targets, and you could say that business is still somewhat underinvested in, with sub par wage agreements also in place.
I think it also leans into the point, that Joyce’s whole financial strategy was somewhat unrealistic. It was all about squeeze squeeze squeeze. Hudson is now stuck dealing with the aftermath, not that anyone has any sympathy for her. The margin forecasts he placed on the business might be achievable in loyalty, but the rest was a fantasy, and was only going to be possible with Joyce at the helm doing what he did best, negotiating bottom dollar contracts with suppliers and employees. Zero financial discipline in this business.
Last edited by nomess; 29th August 2024 at 07:49.