26th Aug 2011, 01:16
Join Date: Jun 2001
Location: 3rd Rock, #29B
Posts: 2,956
Looks like it, smells like it.... better not stand in it...!
So then we open up the 2011 Qantas Return to the ASX....
"what was in there?"
"steak!"
"and I gave it to Jetstar!"
"Nooooooooo.... !"
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No I digress. Sorry.
Reset.
http://www.qantas.com.au/infodetail/...alReport11.pdf
So anyway...
then we look at a bit of the detail...
So.. QFA Intl =BAD (according to AJ) "lost 200m"
yet: the book figures are adjusted for depreciation of...
Depreciation and amortisation (1,124) QFA (thats 1.124 Billion)
and
QFA still gets a 228 Million underlying PBT.
But QF "Intl lost 200m", therefore QFA domestic made.... 428m. After 1.124 billion write off for depn...
QF domestic is a neat little business apparently, can do wonders with a fleet that is smaller in capital investment than.... JETSTAR.
Again, QF International underwrites all the depreciation of note, covers the investment in infrastructure and equipment, and is then claimed to be a loss leader.
I would think that this constitutes at the very least misrepresentation of the facts, given recent public statements. I wonder if it is actually a far more serious obfuscation of the facts by the officers and directors of this company that have statutory duties in relation to their exalted positions.
Just curious as to what it takes to get the ASX and ACCC motivated in this town.
QF Frequent Flyer... great business.... sell liability of the airline reward program and make a profit at it... good work if you can get it. Perhaps QF should just shut it's doors and sell FF points for say... SQ or CX... at least AJ would get his ROI working to his satisfaction.
QF Freight... Well for a fleet of... 4 B737 and 1 B763, wow, that is a great return. Perhaps QF should just get out of the pax ("no money in freight") program and just rent underfloor with... SQ/CX/MS etc.... as apparently the QF international cannot pay it's own way..., Oh right... AJ wants to kill the available uplift already. Pity I thought these were original bad thoughts, not even close.
