God help us. More money thrown at jetrot vietnam

[1a sound asleep]

Jetstar Pacific would also receive a capital injection of $25 million for fleet renewal, with the five Boeing 737s used currently to be replaced with new Airbus A320s from the middle of 2012.
The airline said it hoped to have 15 A320s in its fleet within the next few years.
Qantas said, in a statement, its contribution to the capital injection would be ANOTHER $A7.5 million.


Read more: Jetstar Pacific ownership goes to Vietnam Airways | News.com.au (http://www.news.com.au/business/breaking-news/jetstar-pacific-ownership-goes-to-vietnam-airways/story-e6frfkur-1226277968292#ixzz1n8V41UNu)

[hotnhigh]

Yeah but you've got to trust Alan, because it's 'capital light'.

[piston broke again]

Investing capital into a division not making money? I thought that was against the rules? Oh hang on...its Jetstar....take it all!

[ampclamp]

One day it is Qantas denies Jetstar Pacific merger talk - ABC News (Australian Broadcasting Corporation) (http://www.abc.net.au/news/2011-12-08/qantas-jetstar-pacific-merger-talk/3720874)

Later it is Vietnam Airlines takes control of Jetstar Pacific - ABC News (Australian Broadcasting Corporation) (http://www.abc.net.au/news/2012-02-22/qantas-to-buy-jetstar-pacific-stake/3844504)

:hmm:

[1a sound asleep]

The initial Qantas investment in Jetrot Vietnam was some $50M. Ad in the 4 year losses fines and expenses I am guessing that there is something like a $150M-$200M loss here so far.

Excuse me isnt this what the Qantas Sales Act was designed to STOP? Bleeding money from Australia to a foreign company...

Why the frig are not all the QF investors up in arms???

[ohallen]

What happened to the Return on Equity disciplines that are being blow torched into QF Int? Seems there may be selective management theories at play here.

Please tell me BB or AJ are on the Board of this investment so they can be held accountable by local authorities rather than stooge managers as happened last time....... thought not.

One day someone will have had enough of this lot (I hope).

[Angle of Attack]

Return of Equity is just a smokescreen, they just put money where some of their mates can get kick-backs its how all big business works these days, new ventures require contracts for cleaning, maintenence, baggage handlers etc, and these are given to companies that their mates have a part in ala Dixon.

[gobbledock]

Return of Equity is just a smokescreen, they just put money where some of their mates can get kick-backs its how all big business works these days, new ventures require contracts for cleaning, maintenence, baggage handlers etc, and these are given to companies that their mates have a part in ala Dixon. Very good Angle of Attack, very good! This is precisely how the game is played. Those of you out there who are astute and have the means/contacts/time to dig deep will likely find some interesting yet very subtle/distant links between numerous 'service providers' and the Executives, their mates, family and associates, former trough dwellers and current sponges. Look also at service providers particularly corporate services, auditors, business consultants, I.T training and/or providers and companies that have provided 'management training'.

And yes, shareholders and staff should be outraged that QF has and is allowed to be turned into a personal cash cow for a priveleged minority.
Return for Investors is irrelevant, return for executives is what it is all about. Certain individuals are making a hell of a lot of additional money on top of their salaries and bonuses.
It is time to start burning Rome!

[ohallen]

That is exactly my point that how the game is played is not as it should be.

This lot screamed about lack of return on investment was the reason for drastic action against mainline and now they have changed the rules to suit what they personally want.

There is simply no robust governance system in place here or proper scrutiny of what is occurring.

[The Green Goblin]

There is simply no robust governance system in place here or proper scrutiny of what is occurring.

It's cause the polices are rolling around in the trough too.

Provided they are compliant in office, they have years of trough feeding to look forward to in the private sector after being cast adrift from office when the public have had a gutt full.

They also receive ongoing pensions from us whilst doing so :ugh:

[virgindriver]

Sounds like more losses coming Qantas international's way...

[denabol]

This morning's Virgin announcements mean Qantas management ought to be removed immediately.

They made more profit than the entire QAN group, and are opening up the way for Etihad to come in an invest in the domestic operation through a restructuring, according to my favorite commentator anyhow.

Virgin Australia to split airline to fit in Etihad stake | Plane Talking (http://blogs.crikey.com.au/planetalking/2012/02/23/virgin-australia-to-split-company-made-more-money-than-qantas-in-first-half/)