Qantas carve up?

[lowerlobe]

FRESH from the failed $11 billion takeover bid of Qantas Airways, chief executive Geoff Dixon is to present major reconstruction plans to the board, including carving off its fleet of 200 planes into a separate company.

Qantas has just ordered 20 Boeing 787 Dreamliners, bringing its total order to 85 as it ramps up its capacity in the next phase of the company's $2 billion capital management plan.

The Qantas board is to meet next Wednesday for the first time since Airline Partners Australia (APA) failed in its attempt to take over the national carrier.

Mr Dixon was believed to be furious yesterday as he was told that the restructure plans had been made public, as he boarded a plane after attending Boeing's unveiling of its first completed 787 in Seattle.


Qantas yesterday refused to comment on speculation its directors would also consider plans to spin off the airline's Frequent Flyer loyalty scheme and its freight business.

Mr Dixon is believed to be keen to present the designs to the Qantas board regarding spinning the two businesses off while maintaining control, with the possibility of listing them as separate entities on the stock exchange.

.......This looks like we are going to see the plans that APA had for QF and Darth will take credit for them.The photo of him is that cheesy it looks like a 6 year old at a birthday party..the spin team looks like it is working hard working hard to erase the memory of the failed takeover..

[YesTAM]

THE BLEEDING OBVIOUS QUESTION IS WHY WERE THESE IDEAS NOT DIVULGED TO ORDINARY SHAREHOLDERS AHEAD OF THE APA BID??????

HOW THE F**K COULD ANY SHAREHOLDER MAKE AN INFORMED DECISION ON THE FUTURE VALUE OF THEIR SHARES IN THE ABSENCE OF SUCH INFORMATION?

WERE SUCH PLANS, OR THE EXISTENCE OF SUCH PLANS, KNOWN TO THE BOARD AND WERE THEY KNOWN TO APA?????

If the answer to the last question is affirmative, then I submit that something is very very wrong with Corporate Governance at qantas and probably elsewhere in this country. Of course, since at the time of the takeover bid, APA and its backers had more than 50% of the shares, the Board could perhaps argue that it was acting in the interests of the majority of shareholders.

Of course this begs the question of whether the Mums and Dads would have sold their shares in the first place if they had known beforehand of Dixons plans to give Qantas a glittering (privately owned) future.

[packrat]

Why arent the media all over this?
If some mum and dad business conducted its business dealings in this fashion the Australian Securities Commission would hammer them.
This whole Qantas takeover stinks
The regulatory bodies say nothing
Dixon and half the board should be suspended and prosecutions initiated.
The greatest australian corporate scandal goes largely unnoticed and unreported

[roamingwolf]

the lois and clarks of this world only care when there is a story that will get them on the front page.otherwise they are more interested in paris and her hairdresser appointments.

if ming the terrible did a onetel or a hih and was carted off to the slammer you would not hear the end of it.

[Animalclub]

Perhaps the newspapers are a little afraid of losing the QANTAS advertising dollars?