But Qantas management forgot that low cost also means low fares, with low yields.
Them low value customers on JQ don't seem to pay the bills either!
I recall the 'Administration' of Ansett taking about 10 years. Korda Mentha even formed their own firm!! They were the first to get paid and the last to leave: Paid for ten years after the last revenue flight...
Qantas head count to aircraft ratio is alarmingly high, a great empire the little General has built adoring him. Buildings full of them, working the break out rooms, taking extra day of annual leave to make a four day weekend...All the whilst helping the little fella shrink (pun intended) his way to greatness and the airline too.......
But is the Qantas management team worth it when compared to the performance of peer airlines? From 2009 to 2015 Singapore Airlines made an aggregate net profit after tax of $3.5 billion; Cathay Pacific $4.8 billion; and Air New Zealand $898 million.
Qantas in the same period lost $2.1 billion but its CEO earned almost 50 per cent more than Singapore Airlines' CEO.
Quite right, one thing he knows how to count is his own STIP...LTIP even more interesting
