And which shareholder do you think actually gives a hoot about your petty snivelling?
The large superannuation funds? The investment bankers? The private equity firms?
They look to the day when CASK is back down where it should be.
MP
Maybe none of them do MP, although they might be interested to see if the appropriate amount of money is being apportioned to the right segments.
Hypothetically, it wouldn't be too hard to make Qantas's profit look bad when they have paid cash for aircraft assets they aren't allowed to fly. Like the A330-200s that are 'leased' to Jetstar. Who pays depreciation on that ? It's a huge cost to the bottom line in the reports is it not (I calculated approx $90million/year). Who pays depreciation on the A320's that Qantas owns and lease to Jetstar ?
Take those costs out of the Qantas segment and put them in another segment and it paints a very different picture.
And MP, I'm not so sure they look at the CASK for a measure of performance. I'd say its yield which is the most important.. and what do you know Qantas Domestic segment is absolutely raking in the cash even when lumbered with B734's and B767's and no further investment in widebodies on the way.