Woomera
I am certainly reluctant to attract the attention from one of your high standing, however given your last comment I am compelled to aske have you ever heard of Enron.
They managed to circulate and publish figures that were about as far from the truth as you could possibly get. Admittedly it may have been a crime, and I am not suggesting that the Qantas management is anything but legitimate.
I am just making the point that both analysts and accountants can be comprehensively fooled.
Additionally profits are last years news, not next years.
What's more, these profits have been driven to some extent by exactly what coral has suggested. Slashing and burning mainline to create streamlined alternatives. Remeber J* is the second attempt. AO was the first, and given the obvious success of the formula I would expect management to move further toward these models rather than away from them.
This means staff working harder for less. Which means renegotiated EBA's and a finite future for the lucrative jobs that Qantas employees currently enjoy. It won't happen over night but little by little it must happen.
I agree the Qantas name carries enormous brand collateral and will probably never be lost to the World Aviation Scene, but I also agree with other posters that the Qantas of 10 years hence will be but a shell of its current self. It simply has to be if it is to survive the onslaught of overseas carriers.
Given the recent debate about 3rd party access to the Pacific routes, I am guessing that there will be a limit as to how long Q can operate as a sheltered workshop with exclusive rights to the US, which helps create the illusion that Q mainline is able to compete against other carriers. Level playing field or not.
Cop U Later
The Rev
Last edited by Reverend Doctor Doug; 14th Feb 2005 at 07:57.