Tartare.
Why then was Qantas mainline making billion dollar profits before the little guy appeared on the scene?
The one constant has been the staff. In fact the staff have given pay freezes in difficult times. Whilst management financially rewarded themselves at the same time.
The variables are the Qantas strategy, Australian dollar, foreign and domestic competition, fuel costs etc
Alan Joyce's strategy for the Qantas group maybe the best strategy for the current environment. But he and the Qantas board are not the people to deliver it.
The CEO & board have lost the support of the entire workforce. There needs to be an entire clean out. Delivering new faces with fresh strategies. If the new board and CEO agree that the current strategy is working and the way forward for the Qantas group. Employees would join them for the ride. But I would be surprised if a new board of CEO would continue on the current path of self destruction.
In short. The board and CEO have lost the trust of their employees & nothing will change while they are still running the show.
MC