captaindejavu
14th Jun 2006, 02:20
In this afternoon's paper (Sydney Daily Telegraph (http://dailytelegraph.news.com.au/story/0,20281,19467807-5001028,00.html))...
QANTAS would not leave Australia, the company's chief executive said today, while complaining about foreign ownership restrictions on the flying kangaroo.
Geoff Dixon told a transport conference in Canberra that despite all the speculation around the company's future, there was no intention for it to depart Australia.
"Qantas, of course, and I mean this, has no intention of uprooting from Australia," he said.
But Mr Dixon said the foreign ownership restrictions imposed on Australia made it much harder for Qantas.
He said Qantas faced many airlines which were government-owned and had government support.
The restrictions on foreign ownership on Qantas made it extremely hard to raise the necessary funds to expand.
"What these national ownership and control restrictions also do, is limit the access to capital in the world's most capital-intensive industry," he said.
Qantas is in a big savings drive.
Mr Dixon revealed the company planned to ditch about 20 per cent of its management support positions within the next six months.
"In the next six months we will reduce management support positions by about 20 per cent," he said.
"We're still going to go ahead very aggressively with our two-brand strategy, with Jetstar taking on international operations.
"And we are committed to major ongoing investment in new, more efficient aircraft.
"And we are evaluating other opportunities."
Mmmmmmm. What's his agenda THIS time??? Trying desperately to shore up the languishing share price? More imminent bad news? Or simply just more of the same bull5h1t and 'the cheque's in the mail' or 'I'm here to help you' garbage that we've heard all before, and WAY too often ? Pardon my cynicism. :*
QANTAS would not leave Australia, the company's chief executive said today, while complaining about foreign ownership restrictions on the flying kangaroo.
Geoff Dixon told a transport conference in Canberra that despite all the speculation around the company's future, there was no intention for it to depart Australia.
"Qantas, of course, and I mean this, has no intention of uprooting from Australia," he said.
But Mr Dixon said the foreign ownership restrictions imposed on Australia made it much harder for Qantas.
He said Qantas faced many airlines which were government-owned and had government support.
The restrictions on foreign ownership on Qantas made it extremely hard to raise the necessary funds to expand.
"What these national ownership and control restrictions also do, is limit the access to capital in the world's most capital-intensive industry," he said.
Qantas is in a big savings drive.
Mr Dixon revealed the company planned to ditch about 20 per cent of its management support positions within the next six months.
"In the next six months we will reduce management support positions by about 20 per cent," he said.
"We're still going to go ahead very aggressively with our two-brand strategy, with Jetstar taking on international operations.
"And we are committed to major ongoing investment in new, more efficient aircraft.
"And we are evaluating other opportunities."
Mmmmmmm. What's his agenda THIS time??? Trying desperately to shore up the languishing share price? More imminent bad news? Or simply just more of the same bull5h1t and 'the cheque's in the mail' or 'I'm here to help you' garbage that we've heard all before, and WAY too often ? Pardon my cynicism. :*