Yeah great idea!
Lets buy back the shares at around $5.90 when we could have bought them for $5.10 or so just before the APA bid or even $4.00 a few months before then (when we all know that APA was circling).
With an intent of around 200 million shares in the buy back, thats only a cool $160-$380million or so of shareholder funds we're mucking around with.
Qantas management, brilliant!