Qantas
"material announcement in relation to capital management initiatives”.
What the hell does that mean ?
What the hell does that mean ?
'capital management initiative' means that they may wish to go to the stock market and raise some cash (we're talking over US$100mn) by selling some more shares - also known as a secondary public offering or a rights issue.
Taking this kind of action usually happens either when a company wants to buy up a major rival, or it reckons that it's in trouble and needs some spare cash for a few imminent rainy days
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Qantas axes China flights
Here is an interesting article that a mate of mine sent to me in an email today. It talks about how Qantas are cutting the SYD-PEK, MEL-PVG, and SYD-BOM flights. Looks like the company are reverting to doing BOM shuttles out of SIN again. The article also talks about how Jetstar are taking over operations in NZ instead of Jetconnect.
Qantas axes China flights
Very interesting times ahead!!!!!!!
Qantas axes China flights
Very interesting times ahead!!!!!!!
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Could this be an excuse to draw more QCCA crew away from the 747 and onto the 380? Also could it be an excuse to wind down QAL? as their flying destinations are being taken over by 380....eg.QF 31 to LHR and QF11 to LAX?
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Clarification
These flights are serviced by Airbus A330/200/300.Not 747s
It is way too early to start speculating about the demise of QAL.
It is just a common sense approach to re allocating capacity
It is way too early to start speculating about the demise of QAL.
It is just a common sense approach to re allocating capacity
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Domestos, you really do like to stir.
I suggest you don't speculate about things you have no knowledge of.
International crew have 1 LHR trip per day guaranteed in our EBA, it doesn't have to be any particular flight, there are 3 others to choose from.
I suggest you don't speculate about things you have no knowledge of.
International crew have 1 LHR trip per day guaranteed in our EBA, it doesn't have to be any particular flight, there are 3 others to choose from.
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Sorry...I should have clarified my previous post....what I meant was it may be an excuse to shed more QAL crew (not the airline itself).
Speculation is exactly that....expressing an opinion on incomplete evidence. This is a forum for news and rumour....not CCN. I think I have the freedom to express speculation on this forum....within the rules of pprune.
I 'speculate' that this thread may have a short life......given previous threads involving certain individuals have tended to degenerate into vitriol. Contrast this with my other thread on QD (which does not involve certain individuals) which is going on 9 pages strong.
Speculation is exactly that....expressing an opinion on incomplete evidence. This is a forum for news and rumour....not CCN. I think I have the freedom to express speculation on this forum....within the rules of pprune.
I 'speculate' that this thread may have a short life......given previous threads involving certain individuals have tended to degenerate into vitriol. Contrast this with my other thread on QD (which does not involve certain individuals) which is going on 9 pages strong.
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Not according to the Qantas press release from this morning:
"Qantas announced today it had reached mutual agreement with Boeing to
defer the delivery of 15 B787-8 aircraft by four years and cancel orders for 15 B787-9s scheduled for
delivery in 2014/2015."
"Qantas announced today it had reached mutual agreement with Boeing to
defer the delivery of 15 B787-8 aircraft by four years and cancel orders for 15 B787-9s scheduled for
delivery in 2014/2015."
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Australia's national carrier, the biggest customer for the
aircraft, still has firm orders for 35 787-9s and 15 787-8s
after the cancellation. It says that the delay was not a factor
in its decision.
"Qantas announced its original 787 order in December 2005,
and the operating environment for the world's airlines has
clearly changed dramatically since then," says the oneworld
alliance carrier's chief executive Alan Joyce.
The "prudent" decision will reduce capital expenditure by $3
billion and still allow Qantas and its low-cost subsidiary
Jetstar to "take advantage of growth opportunities and market
demands, both domestically and internationally", he adds.
Under the new delivery schedule, its first 15 aircraft, 787-9s
meant for Jetstar's international operations, will be delivered
from mid-2013. Jetstar was originally due to take delivery of
15 smaller 787-8s in mid-2010.
Another 15 787-8s will follow over the 12 months from the
fourth quarter of 2014 for Qantas' Australian domestic
operations, and allow it to retire its remaining Boeing 767-300
fleet.
The final deliveries of 20 787-9s for both Qantas and Jetstar
international operations will take place from the fourth
quarter of 2015 through to 2017. Qantas retains options for an
additional 50 aircraft.
Looks like topic closed.
aircraft, still has firm orders for 35 787-9s and 15 787-8s
after the cancellation. It says that the delay was not a factor
in its decision.
"Qantas announced its original 787 order in December 2005,
and the operating environment for the world's airlines has
clearly changed dramatically since then," says the oneworld
alliance carrier's chief executive Alan Joyce.
The "prudent" decision will reduce capital expenditure by $3
billion and still allow Qantas and its low-cost subsidiary
Jetstar to "take advantage of growth opportunities and market
demands, both domestically and internationally", he adds.
Under the new delivery schedule, its first 15 aircraft, 787-9s
meant for Jetstar's international operations, will be delivered
from mid-2013. Jetstar was originally due to take delivery of
15 smaller 787-8s in mid-2010.
Another 15 787-8s will follow over the 12 months from the
fourth quarter of 2014 for Qantas' Australian domestic
operations, and allow it to retire its remaining Boeing 767-300
fleet.
The final deliveries of 20 787-9s for both Qantas and Jetstar
international operations will take place from the fourth
quarter of 2015 through to 2017. Qantas retains options for an
additional 50 aircraft.
Looks like topic closed.
Jetstar was originally due to take delivery of
15 smaller 787-8s in mid-2010.
15 smaller 787-8s in mid-2010.
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And you researched it before posting it here as news? Nope. This site is part of the 'media' too, you know.
Last edited by kbootb; 26th Jun 2009 at 09:29. Reason: wrong wink, wrong place, can't remove it, sorry
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1st flight delayed
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..one more
Delaying the 787 first flight: Is Boeing's credibility shot?
Boeing are doing the right thing here.
-drl
Boeing are doing the right thing here.
-drl
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So, can we assume Jetstar will be getting some additonal A330s in the next few years to cover for the delayed 787 deliveries? This is a GREAT market for A330 lessors nowadays...
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The problem is well explained by Flight International at this web address.
Understanding the 787 structural reinforcement (Update1) - FlightBlogger - Aviation News, Commentary and Analysis
Understanding the 787 structural reinforcement (Update1) - FlightBlogger - Aviation News, Commentary and Analysis
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If there is any confusion, here is what QF are saying on their website.
The changes will see*:
* Qantas Group firm orders reduce from 65 to 50 aircraft, comprising 35 B787-9s and 15 B787-8s;
* the Group's first 15 aircraft - B787-9s for Jetstar's international operations - delivered from mid-2013, around three years later than planned. Jetstar was to take delivery of 15 smaller B787-8s in mid-2010;
* 15 B787-8s follow over the 12 months from the fourth quarter of 2014 for Qantas' Australian domestic operations and to retire the remaining Qantas B767-300 fleet;
* remaining deliveries, of 20 B787-9s for both Qantas and Jetstar international operations, take place from the fourth quarter of 2015 through to 2017; and
* Qantas retain the ability to purchase up to 50 additional aircraft.
Mr Joyce said the cancellation of 15 B787-9s would reduce the Group's aircraft capital expenditure by US$3 billion based on current list prices.
"Delaying delivery, and reducing overall B787 capacity, is prudent, while still enabling Qantas and Jetstar to take advantage of growth opportunities and market demands, both domestically and internationally," he said.
Details of the contractual agreement with Boeing remain confidential, but the settlement is materially in line with that previously recognised.
* delivery timeframes are based on current Boeing planning guidance and may be subject to change.
The changes will see*:
* Qantas Group firm orders reduce from 65 to 50 aircraft, comprising 35 B787-9s and 15 B787-8s;
* the Group's first 15 aircraft - B787-9s for Jetstar's international operations - delivered from mid-2013, around three years later than planned. Jetstar was to take delivery of 15 smaller B787-8s in mid-2010;
* 15 B787-8s follow over the 12 months from the fourth quarter of 2014 for Qantas' Australian domestic operations and to retire the remaining Qantas B767-300 fleet;
* remaining deliveries, of 20 B787-9s for both Qantas and Jetstar international operations, take place from the fourth quarter of 2015 through to 2017; and
* Qantas retain the ability to purchase up to 50 additional aircraft.
Mr Joyce said the cancellation of 15 B787-9s would reduce the Group's aircraft capital expenditure by US$3 billion based on current list prices.
"Delaying delivery, and reducing overall B787 capacity, is prudent, while still enabling Qantas and Jetstar to take advantage of growth opportunities and market demands, both domestically and internationally," he said.
Details of the contractual agreement with Boeing remain confidential, but the settlement is materially in line with that previously recognised.
* delivery timeframes are based on current Boeing planning guidance and may be subject to change.