This unfolding disaster could be reversed.
The fund managers who own Qantas (on behalf of the unit holders) could very easily co-operate and facilitate an extraordinary meeting to remove the board. With everyone blaming the board and their insane myopic support of the management, the real question is why are the fund managers silent? The litany of failure, of corporate mis-judgement and of board dereliction are now well and truly on the record for all to see.
For those looking for a conspiracy, the collective inaction and impotence of the fund managers and major shareholders would be a good starting point.
Why are the corporate laws of this country structured in such a way that the actual owners of Qantas ( you, me, hard working mums and dads) can do nothing to stop these criminals from destroying the share value.
The real question is whether the fund managers themselves are complicit in this tragedy - they are the holders of all wisdom and knowledge are they not?