Kiss goodbye to the accumulated reserves
I'm not so sure this will be the case. Singo has mentioned Qantas' cash reserves in a couple of interviews. If the consortium really did have ulterior motives to extract this cash I highly doubt Singo would have said anything about it at all. In any case, if I'm wrong it doesn't make much difference whether that cash goes to line Dixon and co.'s pockets or to help prop up Jetstar in its various forms, it still won't be going to mainline.
Look, I think Dixon was an absolute disaster for Qantas. APA, wrong aircraft, Jetstar ... the list is endless. But the damage Dixon did has been totally eclipsed by Joyce. Believe me when I tell you, I thought long and hard before typing the next sentence.
I think we should sit down and listen to what the consortium have to say.
Firstly, as minority shareholders without any significant support they will be negotiating from a position of weakness at the moment.
Secondly, they are making all the right noises and in a public arena.
Stop the Emirates deal ... tick
Sell Jetstar ... tick
Get rid of Joyce ... big TICK
If they can convince us that they genuinely intend to do this we need to make a bullet proof, legally binding and very public agreement with them detailing the future direction of the company and the place of Australian employees in this brave new world, in exchange for union support.
Otherwise we can always walk away ..... straight back into Alan's lovin' arms.