I hope you are right virginexcess.
Krumlov again I don't see any point in applying broad brushstrokes when making these comparisons. Forensic accountants are the people for this job not pilots.
Assuming that QF's problems are because of pilots salaries is a bit strange. Lets not forget one of those "overpaid" individuals saved 400 odd lives only a few months ago. Can you put a dollar figure on that? Would you prefer that guy to be working in the middle east for Emirates? I'd like that guy on
my team infusing his skills and imparting knowledge to myself and other future captains. Its a bit like the English Premier league. If you want to attract and retain the top players you've got to fork out the cash! Its worth it though, they collect all the trophies and sell the tickets and merchandise.
Yes QF pilots are paid well but there are also numerous costs to the business; other legacy systems/structures, maintenance, aircraft types, fuel, the economy etc. You seem to link high pilot salary with poor financial performance. Last year they made 500 million and a billion not long ago and have been doing so year in year out for decades. You might want to factor into your calculations their zero turnover and thus not only retention but the growth of experience. This leads to further safety, expertise and efficiency on their various types. Sure you can attract experienced people but they don't tend to stick around if the conditions aren't good enough and why would they?If you want the best team you've got to be willing to invest in skilled people. The opposite will just cost you money in the long term.
Good solid conditions=stable work force=zero turnover=experience=safety=profits
When you have the best conditions you can pick and choose from a very large pool of applicants, collecting all the cream on the way. The opposite is also true. Don't get lured into exciting graphs and spreadsheets my friend, if you think pilot conditions are expensive try having an accident or try getting them seriously offside. This hip era of cutting costs in areas of skill is a cancer of common sense. It makes me immediately question iq levels, eduction, agendas and or mental stability/maturity. I immediately know that they are the wrong person for the job as they are putting their short term goals ahead of the company's long term plan. They are either out of their depth or very calculating and cunning.
AIPA and the ALAEA are trying to protect the shareholders, myself included, from these blow-in ego driven executives (The Joyce's and Buchanan's of the world). They come and go collect their golden handshake and when they've left we all sit up and say "well that was expensive wasn't it?". What do you reckon an accident will do to the share price? How about grounding a fleet or worse the whole company? Don't worry about those last two (won't happen in Oz
).
You have to keep an eye out for these types or you end up with mishaps like; no QF777's, VB17/190's, Live2air, not buying Ansett real estate, Premium economy where you buy meals, VA 777's with Cessna 210 cargo doors and finally take overs that line peoples pockets. Here's a refresher from the telegraph in 07:
..The result is also a slap in the face for private equity barons and their investment banking partners who have recently been attempting to carve up some of Australia's finest corporate assets.
The Qantas board will meet this morning to discuss the result, with question marks now hanging over the head of chairman Margaret Jackson – who enthusiastically endorsed the takeover offer when it was launched in December last year...
Anyway thats my take on it.