Professor,
The fact remains that QF profits will be approximately one billion dollars this year and increasing to around two billion the next year.
The fall in the AUD and the sustained fuel price falls are why. Both of these elements are forecast to stay low for years. Particularly the AUD, now that commodity prices have corrected from record highs,and the RBA are at record low rates.
The economic reality is that as the dollar falls so does the attraction for foreign tourists to visit Australia. The fares Qantas charge in foreign dollar amounts are worth more in AUD terms so the yield improves. Foreign competitors stop flooding the market with capacity too as the AUD fares they charge are not so valuable.
As the dollar falls 30-40% so does the cost base in USD terms too. Qantas International now has its upswing.
You can bang on all you want throwing around legacy tripe. Like I said. I'll wait to see what the "legacy" profits bring this year and next.
If Alan makes $10-$15 million dollars in bonuses it makes it very hard to cry wolf now things have turned around. Especially as QF start to make record profits.
I don't really care about your industrial ideology. Let's just see what the results/profits are.
Those who work at Qantas should be very pleased that things have improved so dramatically and look set to remain positive for quite some time.
Rapidly rising share prices and profits are good for shareholders, CEO bonuses, and staff.