Accounting and politics are all smoke and mirrors.
Saying QANTAS must be doing things right, because they are making record profits, is a bit akin to saying Australia is doing things right because we have had falling unemployment for years. Bullsmit.
If you change the guidlines on who can be termed unemployed, of course you can get the figures down. Why don't we look at the total number of people recieving benefit or assistance rather than concentrating on "unemployed" what about the "under employed"
My point being that QANTAS similarly fiddles the system to post artificial profits.
Destroy the work and ambitions of a few thousand previously loyal personnel. That should be good for a few more cents on the bottom line.
If you don't invest in the future, (plant, equipment, personnel), you can inflate the bottom line. Looks good for now but what will it look like in the not to distant future when Geffy slips out with his gold lined pockets? Inventory will be down to a few dozen, written down to zero, aircraft with no significant value on the open market. The new broom checks out the bickkie barrell to start building the airline up to the standard it had and should have maintained, but hasn't. Massive borrowings, stuff all colateral. It ain't going to be pretty.
But will Geffy or the bowtie care?
The ones who will bear the sour fruit of this policy will be those blinkered souls who blunder on thinking all is well in Geffys world cos "we are the only premium carrier making a profit" and apart from that we're far better at this stuff than all the rest of the world. FIGJAM.
Geffy is obviously the most brilliant Airline CEO in the world, or the whole thing is an illusion. I don't see that there can be any other answer.
I let you make up your mind which is more the more likely scenario.
And to add my sixpence worth to the other aspect of this discussion. I purchase tickets on a monthly basis, I will only travel with the Q if there is no other suitable option. The service is crap, and the attitude of the staff is appalling. Gave up using ID travel long ago as Q has made it as difficult and as unpleasnt as possible. Buy over the internet now and where possible direct my money to those who appreciate it.
TO