Qantas is a peculiar beast.
Privatised to release 'efficiency', the idiots in Canberra belatedly realised 'national interest' and created the Qantas Sale Act 1992.
- Qantas has to compete with third world airlines, 'open skies' privatised airports, seek capital and chase return whilst simultaneously keeping the 'majority of their facilities in aggregate in Australia'
- As the QSA was something that QF rightly detest from a pure commercial perspective I remember former general Counsel Johnson, arguing vigorously that the JQ 'Asian pivot' was not in breach of the QSA as it applied ONLY to QF.
- The control of various offshore entities, the huge capital QF must pay to step around the QSA is substantial, their onshore partners provide Principal Place of Business cover that is all, Qantas picks up the tab. Think Singapore, Vietnam, Japan and most definitely HK.
- JQ was the way to step around IR, FWA, the QSA Penny wise and pound foolish, the role of JQ grew far further than originally envisaged, from providing leverage against Australian terms and conditions, managers got carried away conducting an IR war....Neither shareholders, employees or the nation won, but certain insiders and legal firms made substantial profit..
Politicians of all persuasions have sold out this country, globalisation destroying not only bottom end jobs, but gutting the middle class, we the populace exchanging a stable economy for cheap Chinese crap, TV's and cars. The politicians made sure that by importing 457 visa holders and lots of immigration that real wages fell for many years...
The irony for Qantas is that the jig is up, in trying to offshore the business, save a dollar they lost far more. They are not alone every corporate tried it. In a time where populist politics and 'national interest' raising its head, as the tide recedes we may just find out the emperor (Elaine) never had any clothes...