Let's be frank here.
Qantas enjoyed a ten year monopoly in the Australian domestic business market as well as a monopoly on the Pacific for who knows how many years. In all that time they simply raped the Australian public and booked significant profits. Whether or not that was reflected in the balance sheet is irrelevant, the money was made and the management used it.
The fact is Dixon and then Joyce p!ssed away all those years of profits on their misguided Asian affair. Had it not been for this high risk adventure Qantas would have a massive warchest of cash to fight this battle. The fact they chose to squander that money is reflected in the share price.
Why on earth would the taxpayer give even a passing thought to throwing good money after bad to prop up this dysfunctional business model? A bad business is a bad business. Taxpayer money wont change that and will turn it into another bottomless pit of govt funding similar to the auto industry.
Cut it loose and let it sink or swim, using someone elses money, not mine.
Last edited by Vorsicht; 28th Nov 2013 at 09:41.