RegoSearch | Global Aircraft Registration Search
You can see Qantas's past and present policy regarding aircraft ownership there. The old aircraft are owned and registered by Qantas itself.
Aircraft residual price is based off a 20 year schedule, at 20 years of age they're regarded as being worth 0-10% of initial purchase price, ie it's hard to claim depreciation on any of the 767s or 734s or 744s as they would all be fully depreciated.
So now we have dozens of shelf companies owned by Qantas and a variety of outright aircraft leasing companies (like Allco) that each own an aircraft of 2 and lease it back to Qantas.
Why is Qantas
mainline reporting in the
Qantas specific column in the half/full year reports the aircraft depreciation and amortisation ? Jetset has its own column. Freight has its own column. Jetstar has its own column. Frequent Flyer has its own column.
Why isn't the cost being attributed to the individual leasing companies like;
738 Leasing Company - owner of VH-VXG
or
Sicily Leasing Company - owner of VH-VXH
or
QF ECA A380 2010 NO. 4 PTY LTD - owner of VH-OQH
Are they profitable ? Are they maintaining cost of capital ? Are they underperforming ? Shouldn't 738 Leasing Company be bearing the depreciation and amortisation costs ? After all Qantas, mainline, like Jetstar, is only leasing the aircraft off them, aren't they ?
edit: To qualify the changing of standards, the Frequent Flyer aspect was only realised as a 'money spinner' after the financial wiz kids of MacBank&co tried to take over Qantas. Previously it was incorporated into the Qantas profit. Today it's a separate entity. A separate entity that has s symbiotic relationship with the part of the company that's so unprofitable it needs to be taught a lesson
they don't exist without one another.