While the very sad close reflects a less than shining day on ASX and other markets the Q price again showed a disproportionate loss by comparison to other benchmark stocks.
The Board stack announcement with the French Connection & Joyce's spruiking about a further 100m cut and the canx of the a/c just did not inspire the market who largely have deomonstrated that they believe the CEO and the Board is on the nose. The trade in the QF shares and the risk rating by brokers is yet again proof that under Clifford & Co and their little puppet QF is only a viable watch for the stock flippers (those who buy at crisis and flip within a 4-5% margin).
Of note is the fact that the a/c canx centres on the much proclaimed 738's which the need for them lessened with the overnight re-birthing of the previousy NZ reg'd and operated five 737's.
The canx a/c and cuts which are within red tailed business, also confirms the increased capacity for the orange cancer - note that while jobs are being axed from mainline CC ranks (VR still equals axing jobs) JQ is ramping up its recruitment.
- QF is again being lined up for another squeeze it seems.
It is such a shame that the Orange Emperor who is always so quick to abuse the staff, pilots and engineers with cliches and kamakaze references does not embrace other Japanese conventions for failed leaders.
AT