Geez, Qantas according to Plane Talking has put in an extra $60 million without getting any increase in voting rights.
Jetstar problems emerge in Japan and China | Plane Talking
But the ASX filing also decoupled the increase in Qantas money at risk in the venture with Japan Airlines, Mitsubishi Corporation and Central Tokyo Leasing from its voting rights. Amazing. More money, but no more say, in a venture where Qantas is always going to have a minority voice. How brilliant is this?
Probably just as amazing as its Jetstar Hong Kong venture, which Mr Joyce repeatedly said would be controlled by Qantas, guaranteeing that it was illegal under Hong Kong’s basic law, where basic common sense and some engagement with marketing intelligence might just have saved the airline from the limbo in which that project currently finds itself.
Or the amazing foray into Jetstar Pacific in Vietnam, which ‘owes’ Qantas what some believe to be hundreds of millions of dollars which are being looked after for it by Vietnamese majority owners who can and will do whatever they like with it.