The bleating for money astounds me, not only for all that has been mentioned on here already or the boards' salaries & bonuses but this too:
The Qantas Frequent Flyer program, for example, took a record $1.2 billion in billings across the 2013 financial year to contribute $260 million (before interest and tax) to the Flying Kangaroo's pouch.
The scheme is estimated to be worth as much as $3 billion dollars – more than Qantas itself – which has led to speculation that Qantas could sell off a 49% minority stake in the program to raise between $1.3 billion and $1.56 billion for the airline, according to J.P. Morgan.
Read: Could Qantas sell off its frequent flyer program?
However, another analyst has suggested that Qantas hang onto this lucrative 'crown jewel' and instead sell off as many as 42 billion points – yes, that's billion – to its network of retail partners and potentially raise a handy $500 million in much-needed cash.
(Australian Business Traveller - Unbiased business travel news, reviews and advice. Your essential resource for flights, airports, hotels and frequent flyer rewards)