Sunfish, The provisions you raise, if omitted or reduced in balance sheet liabilities, will
increase, not decrease pre tax profit.
Asset revaluation reserves require realistic justification and Board consent. Qantas 2002 net debt to capitalisation ratio was 63.4% and total capitalisation Aus$ 11.6 billion.
I suggest you read
Moody's 2002 Financial Analysis of Qantas Airways Ltd.
With respect, we're talking a major Australian listed public company with Baa1 rating, 30,000 plus employees, 187 aircraft and 142 destinations in 32 countries, not some GA company........
By comparison, Ansett had two, then one only shareholder - and finally, a lot of unhappy creditors!
Woomera