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Old 17th Dec 2006, 22:49
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Buster Hyman

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Qantas had provided reliable revenue streams and there could be people prepared to take a longer-term view
For who? The investors? Aside from extra shares, there have been no cash returns that I'm aware of.

Sure, Qantas is making money, but that isn't solely due to the business decisions of the board. Their number one competitor going down saw them consolidate their position before DJ could be a serious challenge to them & their most lucrative market is still relatively well protected. SARS, Gulf conflicts, oil prices...how can an airline be a reliable revenue source?

Also, it would be naive to think that they couldn't dilute your investment. This is how Abeles & Murdoch killed off any similar types of buybacks at Ansett. Shares were diluted as 100 shares = 1 share and this pretty much killed off the rest of the shareholders.

Be vewy, vewy careful chaps....
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