This board will continue to justify what they do and how they do it leaving staff and customers as collateral damage.
........now I wonder what they've done about fuel hedging?
AEROMEDIC, I agree, but not a lot we can do about it, you see Alan is a self proclaimed superstar, (see story below) the business world love him! This is Australia now days, the big end of town just do what they like, whilst both sides of government huff and puff until election time funding comes around again... pretty much where the UK was 10 years ago before the bubble burst in the service industry.. we haven't caught up yet and Europe is struggling again, .... we can only do each others washing for so long.. There are warning signs recently that the Oz economy is beginning to struggle, (for example, jobs in the car industry and other industries previously announced in Victoria to close down for good, will be a big impact once complete) Until then, things will stay the same.. Canberra will remain in a continual state of hopelessness, they can't run a bath!
Qantas boss Alan Joyce thanks himself for Lazarus-like recovery
"I don't think you can say losing $2.8 billion is crying wolf," Qantas boss
Alan Joyce said on Monday as he defended the airline's Lazarus-like recovery from national basketcase to boom stock after Monday's surprise profit upgrade.
And it must be extra special given that after getting the cold shoulder from the government as the airline was at death's door, Qantas managed the rapid turnaround all on its own.
"We have implemented one of, I think, the best transformation programs out there," explained Joyce of the surprise return to fiscal health.
"The turnaround has been quite rapid as a consequence of that."
Investors will be doubly pleased to hear that Joyce is not planning to grab the accolades and head to the exits just yet.
"I was appointed at my relatively young age because they wanted me to have a long tenure," said Joyce.
He told a conference call that average tenure of a Qantas CEO has been close to 10 years – not that he has any assurances of course.
According to CBD's fact file, if you include the period of government ownership the average tenure has certainly been around the 10-year mark.
But if you restrict yourself to the company's life as a public company it has been more like seven years for his predecessors
James Strong and
Geoff Dixon.
And Joyce just happens to be clocking up his seventh year at the helm.
WAR AND PEACE
Joyce was also quick to refute reports from Rupert Murdoch's media behemoth that the airline had pulled advertising from Fairfax publications, The Sydney Morning Herald and The Age, over some robust reporting of the airline's woes.
"The headline was completely wrong, we are not at war with Fairfax," Joyce said.
"The [
Australian]
Financial Review certainly continues to get ads with us."
The company has also inadvertently supported one of its strongest critics at the
Herald and
The Age,
Adele Ferguson.
Qantas sponsors the Gold Walkley – the highest accolade in Australian journalism – with a $10,000 prize, which was won by Ferguson and her ABC collaborators
Deb Masters and
Mario Christodoulou on Thursday night for their expose on the human cost of the Commonwealth Bank's poor financial advice
Read more:
Qantas boss Alan Joyce thanks himself for Lazarus-like recovery
As for the fuel hedging issue, I guess Joyce will hang on to the current surcharges for as long as possible, until people scream out loud, 'no more!' The festive season is upon us so the people will be thinking of other things, another lucky break for AJ.. he'll hang out for as long as he can, possibly next Feb.
Bearing in mind most J class passengers don't pay for their fares, their companies do, so most of them don't really care other than how many points they accumulate for themselves.. it's a me me world these days..
Seems Fairfax/Qantas have been working overtime today..
Alan Joyce aims to reset Qantas flight path
He is now looking at paying down $900 million of debt in 2015, potentially taking on a new unspecified number of 787 Dreamliner aircraft and even reintroducing dividends - although there are no promises on timing.
All sounds positive which is a pleasant change to what we have had the past 5 years or until the next crisis pops up which might make Alan unhappy again, airlines are a moody business.
