I am afraid that I cannot think of a more destructive strategy in terms of shareholder value than the one Joyce is pursuing. It fails on every possible level:
1. Alienating the workforce.
2. Running down public perceptions of brand value ( the unique selling proposition).
3. Dissemination of resources (as opposed to concentration of resources).
4. Multiple aims (as opposed to selection and maintenance of the aim).
5. Failure to build competitive advantage.
6. Inadequate cost control (proliferation of indirect costs and bad accounting policies).
I could go on.
To put it another way; how would Australians react if we were treated to a news presentation from a North Korean "Airline CEO" who announced that he was about to enter the domestic Australian Aviation market and build a full service domestic airline on the basis of "North Korean Aviation expertise" and that the huge expected profits generated were going to be repatriated to North Korean investors? Would you fly with this guy? Yeah right.
BTW, stockbrokers recommendations of a "buy" for Qantas are not only self serving, they are just plain wrong.