QANTAS Profit

[fujii]

QANTAS has announced a profit.

[Angle of Attack]

This has to get an award for the most ridiculous thread ever. Where? what? how? when?

[Ixixly]

No, No, he is right, apparently it's all steam ahead now for Qantas, dark days are behind, nothing but bright blue clear skies ahead for them now!

Qantas back to making a profit (http://www.news.com.au/finance/business/qantas-lifts-passenger-numbers-in-sept/story-e6frfkur-1227100635329)

[newsensation]

bonuses all round!:ugh:

[fujii]

Well thanks for that AoA. It wasn't so ridiculous, ABC mid morning news and all those following today.

When QANTAS announced the loss a few months ago, the forums lit up before you could say Internet, and yet six hours after today's announcement, nothing. I was just wondering why it was so quiet.

[Stalins ugly Brother]

Because it's been a saga that has gone on way to long now that basically everyone has lost interest. Staff/Public/Government/Media, all don't give a sh+t anymore, we are all to dizzy from the spin.

How come all of a sudden we are profitable when the fundamentals at the business have not changed? This was/is a self inflicted crises to get leverage over it's employees and to con the Government, nothing more.

Don't believe a world that this lot says, there will be another crisis just around the corner soon, when it suits them. Stay tuned, or do what most of us are doing now, tune out. :ok:

[pianokeys]

I am QANTAS and Jet Star supporter and customer including a QANTAS Club member I fail to see how you can make huge loss then make a profit, something is not right here. recently had a problem with Jet Star in New Zealand and complained and are not happy at their reply to my complaint. I have booked a trip at the end of this year to Europe and wanted to go Premium Economy so I looked around and Air New Zealand and Virgin Atlantic had competitive fares so I have booked them QANTAS you have missed out because of the lame excuse from Jet Star I have decided to fly with alternative first time in 14 years.Alan Joyce get real you are playing a big game here trying to justify your big salary while those a the bottom of pile pay for it, You are not creditable. REALLY HOW CAN YOU MAKE A HUGE LOSS THE SUDDENLY MAKE A PROFIT WHAT A JOKE.

[1a sound asleep]

Smoke, mirrors and manipulation

[porch monkey]

It's easy when you write everything off that isn't nailed down, get all your allocations and debt out of the way, a profit comes along!!! Bonuses all round!!! As if anyone couldn't see this coming ....... He definitely is the new messiah:rolleyes:

[saywhat]

So if you have made huge, and I mean huge losses over a lengthy period; then you declare a profit on a particular Tuesday, does that mean that you have paid the losses back or does that just mean you're still hugely indebted and just talking sh1t???

If that is the case, I must tell my bank manager that all is well as I received my salary today and which is all pure profit and he should ignore my overdraft as it means nothing!!

[Chocks Away]

Here here Saywhat! :ok:

NOTE: They "EXPECT to see a profit". They don't have one yet!

Pretty damn easy to make better figures than it's all-time, record breaking 2.84 BILLION Dollar loss... AT THE HANDS OF THE CURRENT BOARD & CEO! :rolleyes:

No shareholder dividends for many years now (though management bonuses continue), moral and employee engagement at record lows; five failed "plans to recovery" plus zero faith in who are steering the ship...

There's only one answer for all this...

[pianokeys]

Yep the one answer is that the board and Senior management need to go from this company. Lets get some honesty back into the bussiness. The problem today is that boards and Senior management are only looking after their own rear ends and are not responsible. The current QANTAS situation is a classic example of this. Being responsible means earning the respect of your staff and industry Allan Joyce and the Board do not have that respect from anyone, including the staff and customers.

[mikedreamer787]

Smoke, mirrors and manipulation

+1..........

[Airbets2040]

Oh what bull dust. On track to make a profit after begging the government for cash and then writing everything down to make a massive loss. Where the hell is ASIC? Its criminal.

[Pinky the pilot]

The ALPBC TV News here in South Australia mentioned, albeit briefly, that Qantas was going to make a profit; Size was unspecified.:hmm:

Went on to mention that the Chief Executive Alan Joyce would be in line for a two million dollar bonus as well.:rolleyes:

:mad::mad::mad::mad::mad::mad::mad::mad:

[Hempy]

Yep, Alan is happy now! $2.5M bonus voted at the AGM. I really wonder what sort of bonus they'd pay someone who knew what they were doing and Qantas shares were blue chip. Disgrace.

[Stanwell]

.
I was going to compose a considered post.

I'm sorry, I have to go to the bathroom - I'm feeling sick. Excuse me.

[Berealgetreal]

That's going to make the EBA vote interesting!

[Quantum of Solace]

For years Qantas refused to properly write down assetts including their aircraft fleet then last finanial year wrote them off the books and annouynced a record loss. Now they can report that without the depreciation they are back on the track to prfitability. In reality they have only cleared the decks of the deck chairs and the lifeboats on the Titanic.
Definitely financial smoke and mirrors on an airline that flies to fewer destinations than before relying on codeshare to con the passengers that still buy Qantas tickets.

[SOPS]

2.5 million bonus for doing what? Excuse me, I feel quite ill.

[Bagus]

Before sacking staff all doom,now most are gone all gloom. I can't believe in short time QF can turn around.

[spelling_nazi]

Is Alan Joyce an android who is only capable of regurgitating the preprogrammed Olivia sanctioned spin? Incapable of answering a question. Then the goons step in.


MARK COLVIN: Qantas boss Alan Joyce has been handed a massive incentive to turn his struggling company's fortunes around.

Shareholders have agreed to pay the chief executive a $2.5 million bonus if he can transform Qantas into one of the world's most valuable airlines.

Business reporter Pat McGrath was at the Qantas annual general meeting.

PAT MCGRATH: Today's annual general meeting was a chance for shareholders the chance to grill the Qantas board and senior management about the company's future direction.

There was no official press conference to give journalists an opportunity to ask Alan Joyce about the decision to pay him a bonus worth $2.5 million.

(Approaches Alan Joyce) Excuse me sir, Pat McGraph from the PM program at the ABC. Just wondering, is the $2.5 million, is it really worth a bonus to essentially be doing your job?

ALAN JOYCE: I'm, I'm absolutely committed to Qantas. I think it's a great airline, a great brand. The company will make, has made a profit in the first quarter of this year, we're on track to meet the target of being profitable in the first half. That's a great turnaround and this business is on track to go back into profitability.

MINDERS: Thank you very much, we'll have to leave it there.

PAT MCGRATH: Earlier in the day, Qantas chairman Leigh Clifford set out the terms of the bonus, which would be paid in the form of Qantas shares.

LEIGH CLIFFORD: These rights will only vest and convert to shares if the three year performance conditions are achieved.

PAT MCGRATH: Alan Joyce gave himself a 5 per cent pay cut this year after announcing a major restructure that will leave at least 5,000 Qantas workers without jobs over three years.

And he didn't receive any bonuses last financial year when the company posted a loss of almost $3 billion.

But he'll be back among the country's best-paid CEOs if the restructure yields results.

LEIGH CLIFFORD: Our total shareholder return needs to outperform 75 per cent of the companies in the ASX 100, as well as 75 per cent of the global airlines comparison group.

PAT MCGRATH: In the end about 98 per cent of shareholders voted in favour of bonus, including almost 250 represented at today's meeting by John Curry from the Australian Shareholders Association.

JOHN CURRY: I think it's fair, the whole concept is aimed at long term incentives, not short term and Qantas certainly are in the market for the long term.

PAT MCGRATH: You talked about the procedure for Alan Joyce's long term incentives. How would you like to see that run? What are the problems or things that could be thrown into the mix there?

JOHN CURRY: The share price today, for the purpose of these long term incentives, is 78 cents. Well now clearly the market is a lot more than that. This is where the hocus pocus bit comes in, black magic. They use determinates of discounted cash flows, possibility of dividends and they come up with a figure. No one really knows what all that means, except the executive finally might get a big parcel of money.

PAT MCGRATH: Alan Joyce says the turnaround has already begun.

Figures released this morning show Qantas passenger volumes were up by almost 3 per cent last month and that's flowing through the revenue.

ALAN JOYCE: Our preliminary figures indicate the group has made an underline profit before tax for the first quarter of the financial year 2015. We're on track to deliver an underline profit for the first half of the financial year.

PAT MCGRATH: And Alan Joyce is a step closer to his bonus tonight after a big rise in Qantas shares after the release of today's passenger figures.

Qantas shares closed almost 3.5 per cent higher on $1.43 cents.



MARK COLVIN: Pat McGrath.

[spelling_nazi]

A bonus for fixing the mess he is responsible for creating.

Should I expect a bonus every time I land safely?

[NowThatsFunny]

So who are these shareholders that vote for this?????

[AEROMEDIC]

ASIC, are you reading this?

[cattletruck]

It has always been cheaper to hire writers of fiction rather than employ good accountants.

[Australopithecus]

Spelling Nazi...you can get the landing bonus only if you stall it at cruise altitude first, give the rudders a red-hot go on the way down, then recover in ground effect. That's what Alan would do. :cool:

[ohallen]

Don't forget propensity for permanent injury to passengers and crew during the whole process

Muppets don't care what anyone outside the club thinks

[RENURPP]

Spelling Nazi...you can get the landing bonus only if you stall it at cruise altitude first, give the rudders a red-hot go on the way down, then recover in groundi disagree, the landing bonus would only apply if you stuffed the whole flight, did a heavy landing with damage and THEN made a PA telling all the pax what an "amazing" job you did and strutted through the terminal with a God complex obvious to all except yourself.

[hi-speed tape]

Anyone that can announce a loss in the billions, lay off 5000 staff then accept a $2.5 million bonus in the same 12 month period should be jailed !
Sorry, but I am very angry.

[bdcer]

Surely, you'd split the bonus with the 5000 staff leaving ($500 / each?). He has enough money for a couple of lifetimes....

[triton140]

All smoke and mirrors.

Joyce did not say they would make a profit.

He said they were on track to achieve an underlying profit, whatever that means (there is no such thing in accounting, and who knows what "on track" means). They will define "underlying" to suit their own ends by excluding all sorts of expenses.

If they want to make such statements, they should be prepared to back them up with numbers - they would have had the September quarter numbers, if they were so good, they should have announced them.

Even worse, the financial press accepted their word without question. Hopeless the lot of them.

ASIC should take a close look at Qantas and their disclosure practices. A cynical and not very sophisticated attempt to boost the share price.

[blow.n.gasket]

Must be the old cynic in me!
There wouldn't be a Traunche of Senior Management shares about to vest would there?

[cattletruck]

ASIC, are you reading this?

and

ASIC should take a close look at Qantas and their disclosure practices.

Now look what I learned reading The Age today

The response to the Commonwealth financial planning scandal shows banks really are above the law (http://www.theage.com.au/business/comment-and-analysis/the-response-to-the-commonwealth-financial-planning-scandal-shows-banks-really-are-above-the-law-20141026-11c13d.html)

Yep, ASIC's a#$e is for hire.

[hotnhigh]

Blow.n
As mentioned previously 33 million plus shares.
Page 43 of the annual report.
33 million plus. Check it out. Interesting to see the vest dates as well.