Senator XENOPHON: Mr Joyce, on 17 February 2011, in announcing half-yearly results, you said that Qantas improved yield by nine per cent, that it demonstrated a strong revenue recovery across both international and domestic businesses. Yet, on 22 June 2011, you said that Qantas international was forecast to generate a loss, before interest and tax, of approximately $200 million. Could you please explain what happened to the trading environment in 3½ months? What happened to Qantas international?
Mr Joyce : Sorry, Senator, could you give the dates again?
Senator XENOPHON: Sure. You made a statement on 17 February 2011 that Qantas improved yield by nine per cent. You also stated that it demonstrated a strong revenue recovery across both international and domestic businesses. Then, on 22 June 2011, you singled out the international component of Qantas for special attention, saying that Qantas international, in financial year 2011, was forecast to generate a loss, before interest and tax, of approximately $200 million. I am just trying to establish what occurred in that period from 17 February to 22 June 2011.
Mr Joyce : I think we will have to take that on notice because I do not remember the statements.
Perhaps he may find it easier to recall last August to October, when we went from doing so well that we could afford to buy back our own shares to being a financial mendicant so desperate we'd stick our hand out for $3billion to a conservative government whose catchcry is "the end of entitlement"