Were it not for the dead hand of the New York based major shareholders, Qantas would be a great investment by the same metrics as have built a number of billion dollar fortunes.
- great market share, check.
- great brand loyalty, check.
- Abysmal corporate strategy (Jetstar and especially China) , check.
- Abysmal management, check.
On that basis, if Qantas was a "normal" public company, it would now be time to buy in, reasoning that shortly the major shareholders are going to lose patience and replace the Board and management with competent individuals who will turn the company around.
yet despite at least Five years of abysmal, demonstrably childish behaviour and wishful thinking on behalf of Management, this has not happened. Why?
One can ony come to the conclusion that the same forces behind the failed APA bid are still hell bent on privatising the business, either that, or they are dumber than Alan Joyce.