Commodity Bubbles.
This commmodity boom,or super cycle,has been characterised by a series of commodity specific bubbles...Zinc,Uranium,copper,nickel and now we have coal,iron ore and oil.
Analysts are predicting that the price of oil will take a dive when it breaks below $US120/barrel.
Its(Aviation Kerosene) already gone from $US172 to $US158 over recent days.
Dixon would be aware of this trend and is using the oil screen to jusify these schedule changes and staff cuts.
They wont be reinstated when the oil price tanks(No Pun Intended).
In the mean time Jet* eats into mainline.
Give it about 18 months and there will be a whole lot of repainting goin'on and Dixon will have successfully reduced his Labour costs by about 40% company wide.
The share price will still languish around $3.65 and his precious shareholders will still be treated only marginally better than QF customers and staff.
Once capacity increases and the travelling punter has a real choice they will leave Qantas in droves.
Unless of course Dixons successor spends a whole of money on rebuilding the brand.
Where is the new chairman and what is he doing ?