AJ could not understand why Macquarie Bank cannot focus less on profits
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AJ could not understand why Macquarie Bank cannot focus less on profits
Macquarie Bank owned Sydney Airport have continuously increased charges and AJ is saying these are biting into the bottom line at Qantas.
So why can't Macquarie Bank focus less on making huge huge profit and more on helping everyone out?
It's not in their corporate statement to help one another. AJ what a waste of time to blast the only one company who would just not listen to anything that does not result in ripping people off. Of course the report than ends on a bright note that there's still loads and loads of cash in Qantas cash reserve so help yourselves everyone, especially the EEC court who will make a decision on how much fine would be appropriate for criminal price fixing over a period of three full years.
So why can't Macquarie Bank focus less on making huge huge profit and more on helping everyone out?
It's not in their corporate statement to help one another. AJ what a waste of time to blast the only one company who would just not listen to anything that does not result in ripping people off. Of course the report than ends on a bright note that there's still loads and loads of cash in Qantas cash reserve so help yourselves everyone, especially the EEC court who will make a decision on how much fine would be appropriate for criminal price fixing over a period of three full years.
Qantas warns over discount air fares unless charges cut
By Geoff Easdown
May 28, 2009 08:17am
QANTAS chief Alan Joyce has warned discount air fares will end unless the nation's airports trim costs and stop charging for everything imaginable.
Mr Joyce said Melbourne, Sydney and Brisbane ranked in the top five airports in the world as measured by operating margins.
The three airports netted margins ranging from 65 per cent to 71 per cent, he said in an address to a Melbourne business lunch.
And he revealed the airline pays $700 million a year to the nation's airport operators.
"Airports are very good at earning revenue and producing profits out of everything you can imagine," he said afterwards.
"I think if they could charge for oxygen at the airport they probably would because they do earn a lot of fees out of everything they can."
Mr Joyce said Qantas was discounting heavily to stimulate travel, but the low prices that kept customers buzzing through airport terminals were unsustainable in the long term unless the airports trimmed operating margins.
And in a direct criticism of Brisbane airport management, he complained that the airport had recently imposed a 30 per cent increase on Jetstar.
"If we include Auckland, four out of the top five highest margin airports in the world form significant parts of the Qantas Group network," Mr Joyce noted.
He contrasted the Australia-New Zealand situation with Frankfurt-Hahn, Malaysia, Singapore and Hong Kong airports which had reduced charges to help stimulate demand in the present economic climate.
He added that constructive discussions were continuing with the managers of both Gold Coast and Melbourne airports.
"But so far no major airport has agreed to lower its charges in an effort to cooperatively stimulate passenger demand," he said.
"Worse, we are still getting proposals to increase leasing and staff car parking charges significantly".
Mr Joyce had earlier disclosed that Qantas was cashed up with $3 billion in the bank and was better placed than its rival to withstand the economic downturn.
He also told how the airline had funding facilities in place to cover all aircraft purchases until 2010, which he said gave "certainty to our operating going forward"
By Geoff Easdown
May 28, 2009 08:17am
QANTAS chief Alan Joyce has warned discount air fares will end unless the nation's airports trim costs and stop charging for everything imaginable.
Mr Joyce said Melbourne, Sydney and Brisbane ranked in the top five airports in the world as measured by operating margins.
The three airports netted margins ranging from 65 per cent to 71 per cent, he said in an address to a Melbourne business lunch.
And he revealed the airline pays $700 million a year to the nation's airport operators.
"Airports are very good at earning revenue and producing profits out of everything you can imagine," he said afterwards.
"I think if they could charge for oxygen at the airport they probably would because they do earn a lot of fees out of everything they can."
Mr Joyce said Qantas was discounting heavily to stimulate travel, but the low prices that kept customers buzzing through airport terminals were unsustainable in the long term unless the airports trimmed operating margins.
And in a direct criticism of Brisbane airport management, he complained that the airport had recently imposed a 30 per cent increase on Jetstar.
"If we include Auckland, four out of the top five highest margin airports in the world form significant parts of the Qantas Group network," Mr Joyce noted.
He contrasted the Australia-New Zealand situation with Frankfurt-Hahn, Malaysia, Singapore and Hong Kong airports which had reduced charges to help stimulate demand in the present economic climate.
He added that constructive discussions were continuing with the managers of both Gold Coast and Melbourne airports.
"But so far no major airport has agreed to lower its charges in an effort to cooperatively stimulate passenger demand," he said.
"Worse, we are still getting proposals to increase leasing and staff car parking charges significantly".
Mr Joyce had earlier disclosed that Qantas was cashed up with $3 billion in the bank and was better placed than its rival to withstand the economic downturn.
He also told how the airline had funding facilities in place to cover all aircraft purchases until 2010, which he said gave "certainty to our operating going forward"
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AJ could not understand why Macquarie Bank cannot focus less on profits
Mr Joyce had earlier disclosed that Qantas was cashed up with $3 billion in the bank and was better placed than its rival to withstand the economic downturn.
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McBank in all of its various incarnations, relies on the asset turning a profit in order for their fee based leverage models to generate income or in the case of some key infrastructure such SIT, sufficient credit/equity so as to facilitate other geared acquisitions. (or to prop up the not so brilliant ones 
)
The story is just Q positioning and it's important to remember a lot of other processes are overlaid into this peice, including the Fed Gov., looking to increase the pax movement charge etc.,
What is dissapointing is the overt touting and lobbying being done by one or two infrastructure operators with certain OS carriers. If they get up, these short term myopic gains will be at the expense of existing Australian jobs which in turn reduces super contributions and the knock on is less $ for infrastructure funds and investments.........But to be fair, just like Q the 'opportunities' of the GFC are just too tempting.
AJ does however need to be clear which hat he appears to be wearing - the costume of a poor struggling LCC that in reality has access to a healthy cash reserve is a bit like Donald Trump getting injured by falling off his wallet - neither evokes sympathy.
.........or the cynical in other threads could suggest that creating new reduced infrastructure access deals for J* - as opposed to the existing Q access costs make a good business case for a further xfer of routes.
)The story is just Q positioning and it's important to remember a lot of other processes are overlaid into this peice, including the Fed Gov., looking to increase the pax movement charge etc.,
What is dissapointing is the overt touting and lobbying being done by one or two infrastructure operators with certain OS carriers. If they get up, these short term myopic gains will be at the expense of existing Australian jobs which in turn reduces super contributions and the knock on is less $ for infrastructure funds and investments.........But to be fair, just like Q the 'opportunities' of the GFC are just too tempting.
AJ does however need to be clear which hat he appears to be wearing - the costume of a poor struggling LCC that in reality has access to a healthy cash reserve is a bit like Donald Trump getting injured by falling off his wallet - neither evokes sympathy.
.........or the cynical in other threads could suggest that creating new reduced infrastructure access deals for J* - as opposed to the existing Q access costs make a good business case for a further xfer of routes.
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Why would the airports drop their prices when they are in a monopoly position? I don't recall Qantas dropping it's prices when the cosy two airline agreement was all the rage!
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The effrontery of AJ is surprising. So far his rhetoric has been impressive but two days ago he announces the exit aisle is a premium seating area and the punters have to cough up.
Now he's asking the Billionaire Bank for a discount.
Nice try AJ.
I look forward to your further attempts at humour in the next few weeks.
Now he's asking the Billionaire Bank for a discount.
Nice try AJ.
I look forward to your further attempts at humour in the next few weeks.
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Macquarie Bank stands for and represents everything that is the ugly side of capitalism, pure greed.
Airports are an essential infrastucture of a country, they are there to serve the nation, but slimes like Macquarie see this as a milking cow for themselves and those miserable pathetic messiah acting CEO's and executives.
Nothing else but pure greed, with their ugly snouts in the trough gorging themselves on million dollar salaries, as they are unaccountable to anyone, look at their persona and how they speak at AGM's, in a pious condescending manner.
Airports are an essential infrastucture of a country, they are there to serve the nation, but slimes like Macquarie see this as a milking cow for themselves and those miserable pathetic messiah acting CEO's and executives.
Nothing else but pure greed, with their ugly snouts in the trough gorging themselves on million dollar salaries, as they are unaccountable to anyone, look at their persona and how they speak at AGM's, in a pious condescending manner.
Pass A Frozzo
Chimbu Chuckles
8888
Hot Dog
Ozbusdriver
Buster Hyman
Parabellum
And a couple of others
Isnt it great, Capatilism at its best. If any arline does not want to pay, then dont land there, nobody's rights impinged on there. If we dont need as many aircraft and therfore as may crew, who could argue with that, nobody's rights impinged on. You guys can only be happy with that surely!
I am only going on what you have said on the 'Howard workchoises" thread. It will be great when there are only a handfull of movements a day out of these airports wont it? We can ALL relax a bit, nobody's rights impinged on there.
I know I said I wouldnt be back, but hey!
Chimbu Chuckles
8888
Hot Dog
Ozbusdriver
Buster Hyman
Parabellum
And a couple of others
Isnt it great, Capatilism at its best. If any arline does not want to pay, then dont land there, nobody's rights impinged on there. If we dont need as many aircraft and therfore as may crew, who could argue with that, nobody's rights impinged on. You guys can only be happy with that surely!
I am only going on what you have said on the 'Howard workchoises" thread. It will be great when there are only a handfull of movements a day out of these airports wont it? We can ALL relax a bit, nobody's rights impinged on there.
I know I said I wouldnt be back, but hey!
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All pilots should support the words of AJ when it comes to capital city airports. No one in the airline industry should be siding with these monopolostic capital city airports that are robbing airlines of margins and ripping off the traveling public. Airports are quick to take the growth upside in the good times but they should partner the airlines during the tough times.
Airlines should not be ashamed of strong balance sheet & cash in the bank as it essential for survival and it is insignificant in comparison to the excessive margins of capital city airports.
Airlines should not be ashamed of strong balance sheet & cash in the bank as it essential for survival and it is insignificant in comparison to the excessive margins of capital city airports.
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A few years ago, I remember a friend telling me that the parts for a Bose Wave radio altogether cost about $10. This was in about the early 1990's.
The fact is that Macbank, like Bose, will set the prices for everything to maximise the margins for the market they're in. Any good business operator will do the same, including your corner milko owner. Until QF and its pax decide to utilize another airport, or another form of transport as an alternative to balance cost, convenience and service, then QF has no choice. Who privatized the airports and who wants to privatize ATC?
The fact is that Macbank, like Bose, will set the prices for everything to maximise the margins for the market they're in. Any good business operator will do the same, including your corner milko owner. Until QF and its pax decide to utilize another airport, or another form of transport as an alternative to balance cost, convenience and service, then QF has no choice. Who privatized the airports and who wants to privatize ATC?
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The airport hits back: AJ and Qantas: you are self serving and simplistic
key to charges: return on investment. airport not in the business to help airlines and never will so eat your heart out
key to charges: return on investment. airport not in the business to help airlines and never will so eat your heart out
AIRPORTS have hit back at claims by Qantas that they are overcharging, with one describing the comments as "selective and populist".
today
Qantas chief executive Alan Joyce attacked airport charges during a speech this week to the Committee for Economic Development of Australia and singled out Sydney, Brisbane and Melbourne as having some of the highest operating margins in the world.
Mr Joyce said that, to help keep fares low and to stimulate traffic, the airports should reduce the $700 million a year in fees and charges the airline pays them.
He warned that fare levels and capacity might not be sustainable if airports did not come to the party, and complained that some were raising leasing and carparking charges.
He also said international airports in Germany, Malaysia, Singapore and Hong Kong had voluntarily reduced charges to help airlines stimulate demand.
But he said Australian airports would charge for oxygen if they could.
The airports returned fire yesterday. Brisbane Airport Corporation chief executive Koen Rooijmans said he was surprised and disappointed by Mr Joyce's "selective and populist" claims.
Referring to Mr Joyce's remarks that airports would charge for oxygen, he pointed to moves by airlines to charge passengers for everything from leg-room, water, food and blankets to toilets.
Mr Rooijmans said it was inaccurate to use operating profit as a percentage of revenue as the key measure of airport profitability, because this excluded the cost of finance. The most meaningful measure of profit in a business was return on investment, he said.
He said BAC had invested about $1billion in aviation infrastructure over the past 10 years at a return of 6.6 per cent in 2007-08, compared to 27.7 per cent for Qantas in the same year.
In the current five-year pricing cycle BAC would invest about $800 million on work that would include expanding the international terminal, building a major road system, expanding domestic aprons to accommodate the larger 787 aircraft, and expansion of the terminal used by Jetstar.
Future projects would involve the investment of a further $2.9 billion, including $600 million linked to expansion of domestic and Qantas terminals, and $1.3billion on a new runway.
It was also populist for Mr Joyce to tie continued low airfares to airport charges.
"Airports account for a small percentage of an airline's ticket price, and if Qantas wishes to engage in low-cost warfare in the marketplace, that is their business," Mr Rooijmans said.
"It is not the role of airports to help airlines continue this unsustainable practice."
Mr Rooijmans, who has been a senior executive at an airline and an airport, rejected a claim that BAC had imposed a price increase on Jetstar. "The agreement to fund infrastructure investment was explicitly agreed and encouraged by Jetstar nearly three years ago," he said.
Mr Joyce was Jetstar chief executive at that time.
"BAC does not expect our suppliers to discount in order to maintain our business in tough times, and nor should airlines, especially if they continue to try to promote unsustainable business practices, such as $10 fares," Mr Rooijmans said.
"The airlines certainly showed no such charity during the Asian crisis, when we were hit with huge losses of passengers, and we do not expect such charity if and when there is any future downturn in passenger numbers."
Sydney Airport Corporation also rejected the comments, saying its aeronautical charges were modest and represented just 1 per cent to 2 per cent of an average return airfare to London.
According to it, airports are not immune to the financial crisis and it has been forced to cut staff as well as contain capital and operational expenditure in response to the economic conditions.
It claims fees charged by Sydney airport are small compared with the other taxes, charges and fuel levies included in an airfare.
In the past 18 months, Sydney airport has made agreements with Jetstar and Qantas on a reduction in charges and claims to be working to identify efficiencies and make improvements.
Melbourne airport is in discussions with Qantas. "We have the lowest major airport charges in Australia, with Sydney and Brisbane both being over 50 per cent more expensive," Melbourne airport spokeswoman Emma Stenhouse said.
"We are proud of the fact that we work well with our airline partners both in the good times and when the going gets tough."
today
Qantas chief executive Alan Joyce attacked airport charges during a speech this week to the Committee for Economic Development of Australia and singled out Sydney, Brisbane and Melbourne as having some of the highest operating margins in the world.
Mr Joyce said that, to help keep fares low and to stimulate traffic, the airports should reduce the $700 million a year in fees and charges the airline pays them.
He warned that fare levels and capacity might not be sustainable if airports did not come to the party, and complained that some were raising leasing and carparking charges.
He also said international airports in Germany, Malaysia, Singapore and Hong Kong had voluntarily reduced charges to help airlines stimulate demand.
But he said Australian airports would charge for oxygen if they could.
The airports returned fire yesterday. Brisbane Airport Corporation chief executive Koen Rooijmans said he was surprised and disappointed by Mr Joyce's "selective and populist" claims.
Referring to Mr Joyce's remarks that airports would charge for oxygen, he pointed to moves by airlines to charge passengers for everything from leg-room, water, food and blankets to toilets.
Mr Rooijmans said it was inaccurate to use operating profit as a percentage of revenue as the key measure of airport profitability, because this excluded the cost of finance. The most meaningful measure of profit in a business was return on investment, he said.
He said BAC had invested about $1billion in aviation infrastructure over the past 10 years at a return of 6.6 per cent in 2007-08, compared to 27.7 per cent for Qantas in the same year.
In the current five-year pricing cycle BAC would invest about $800 million on work that would include expanding the international terminal, building a major road system, expanding domestic aprons to accommodate the larger 787 aircraft, and expansion of the terminal used by Jetstar.
Future projects would involve the investment of a further $2.9 billion, including $600 million linked to expansion of domestic and Qantas terminals, and $1.3billion on a new runway.
It was also populist for Mr Joyce to tie continued low airfares to airport charges.
"Airports account for a small percentage of an airline's ticket price, and if Qantas wishes to engage in low-cost warfare in the marketplace, that is their business," Mr Rooijmans said.
"It is not the role of airports to help airlines continue this unsustainable practice."
Mr Rooijmans, who has been a senior executive at an airline and an airport, rejected a claim that BAC had imposed a price increase on Jetstar. "The agreement to fund infrastructure investment was explicitly agreed and encouraged by Jetstar nearly three years ago," he said.
Mr Joyce was Jetstar chief executive at that time.
"BAC does not expect our suppliers to discount in order to maintain our business in tough times, and nor should airlines, especially if they continue to try to promote unsustainable business practices, such as $10 fares," Mr Rooijmans said.
"The airlines certainly showed no such charity during the Asian crisis, when we were hit with huge losses of passengers, and we do not expect such charity if and when there is any future downturn in passenger numbers."
Sydney Airport Corporation also rejected the comments, saying its aeronautical charges were modest and represented just 1 per cent to 2 per cent of an average return airfare to London.
According to it, airports are not immune to the financial crisis and it has been forced to cut staff as well as contain capital and operational expenditure in response to the economic conditions.
It claims fees charged by Sydney airport are small compared with the other taxes, charges and fuel levies included in an airfare.
In the past 18 months, Sydney airport has made agreements with Jetstar and Qantas on a reduction in charges and claims to be working to identify efficiencies and make improvements.
Melbourne airport is in discussions with Qantas. "We have the lowest major airport charges in Australia, with Sydney and Brisbane both being over 50 per cent more expensive," Melbourne airport spokeswoman Emma Stenhouse said.
"We are proud of the fact that we work well with our airline partners both in the good times and when the going gets tough."
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people living in glass houses should not throw stones
one rip off business accusing another business of rip off.
believe it or not, to the general public, Qantas is a rip off airlines. it is well known for being the most expensive airfares in Australia, everyone in the public would not disagree that.
so here we have a rip off Qantas accusing a rip off macquarie bank and other rip off airport companies.
one rip off business accusing another business of rip off.
believe it or not, to the general public, Qantas is a rip off airlines. it is well known for being the most expensive airfares in Australia, everyone in the public would not disagree that.
so here we have a rip off Qantas accusing a rip off macquarie bank and other rip off airport companies.
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I have to admit that I didn't expect such flagrant and such public duplicity from Alan Joyce so soon.
"Waa waa waa, the privately owned airports are charging too much, it's just not fair, waa waa waa"
Hey, privatisation and capitalism are fine by me.......so long as you realise and accept their limitations and inherent issues (just as with the other side of the political spectrum). It's when you don't have a clue then whinge about it that I get ticked off.
"Waa waa waa, the privately owned airports are charging too much, it's just not fair, waa waa waa"
Hey, privatisation and capitalism are fine by me.......so long as you realise and accept their limitations and inherent issues (just as with the other side of the political spectrum). It's when you don't have a clue then whinge about it that I get ticked off.
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It gives you the creeps doesn't it, that QF so nearly became part of these tossers, to say nothing of the bankrupt Allco, it has to be one of the closest sales that did not come off (no thanks to GD and Marg) in this country, I still reckon the likes of Capts, Brain, Ritchie, Allan, Crowther, etc, had a word with the big Bloke, men with integrity, men with honor, men who put the airline and its staff first, not last, how things have changed.
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Capitalism, its the punter who pays!
These pricks are just rubbing of each other, using each other for excuses to charge more. End of the day the more money in the tin the larger the volume of profit. The bigger the turnover the bigger the paycheck.
Capitalism is all about the story attached to the sales pitch, nothing to actually do with what you get for what you pay.
But what is the % of a local airfare? What do they do for that?
Pilots get paid by the size of the aircraft, are they any harder to fly, eg regional verse heavy. Is a q400 pilot any less talented than a 747-400 pilot?
PS
I used to be able to afford to park and see my friends and family off at the airport walk around and enjoy the activity. Now its "quick get your bags out (YOURSELF), all the best, got to go before I get booked for standing to long!"
$14 per 1/2 hr for what? Oh thats right to exit into a traffic jam!
The airport is a monopolisitc joke, paid for at a premium by the punter who has no choice. Why it is accepted or allowed is obviously no more then greed and corruption by those in power.
Capitalism is all about the story attached to the sales pitch, nothing to actually do with what you get for what you pay.
Sydney Airport Corporation also rejected the comments, saying its aeronautical charges were modest and represented just 1 per cent to 2 per cent of an average return airfare to London.
Pilots get paid by the size of the aircraft, are they any harder to fly, eg regional verse heavy. Is a q400 pilot any less talented than a 747-400 pilot?
PS
I used to be able to afford to park and see my friends and family off at the airport walk around and enjoy the activity. Now its "quick get your bags out (YOURSELF), all the best, got to go before I get booked for standing to long!"
$14 per 1/2 hr for what? Oh thats right to exit into a traffic jam!
The airport is a monopolisitc joke, paid for at a premium by the punter who has no choice. Why it is accepted or allowed is obviously no more then greed and corruption by those in power.
Last edited by rudderless1; 31st May 2009 at 01:25. Reason: missing quote
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unfortunately, like the banks, the government condone these charges and more.
Just like the government giving the banks a guarantee of funds was actually rubber stamping banks activities unchecked. There are no legislation that protects the consumer from airport charges even though it is an essential piece of public infrastructure, airports like telecommunications is something of national interest and national security, so it appears it borderlines public domain, but yet the government does not care, so now the consumers are held hostage by this behemoth that only knows how to take does not know how to give anything back.
Macquarie is famous for taking over public infrastructure using borrowed funds like roads, rail, water, airports etc and hold everyone ransom to their charges, that's how they can pay their CEO last year 30 million. Nothing has changed since the financial crisis, greed is still there, remuneration still unchecked, public interest still play second fiddler over corporate salaries.
Who knows what next? Maybe the state will start selling its parks, imagine Hyde park sold to Macquarie bank and all will be charged to enter the park.
This will not be something that cannot happen, they have sold the electricity to private domain what's to stop them from selling parks.
Just like the government giving the banks a guarantee of funds was actually rubber stamping banks activities unchecked. There are no legislation that protects the consumer from airport charges even though it is an essential piece of public infrastructure, airports like telecommunications is something of national interest and national security, so it appears it borderlines public domain, but yet the government does not care, so now the consumers are held hostage by this behemoth that only knows how to take does not know how to give anything back.
Macquarie is famous for taking over public infrastructure using borrowed funds like roads, rail, water, airports etc and hold everyone ransom to their charges, that's how they can pay their CEO last year 30 million. Nothing has changed since the financial crisis, greed is still there, remuneration still unchecked, public interest still play second fiddler over corporate salaries.
Who knows what next? Maybe the state will start selling its parks, imagine Hyde park sold to Macquarie bank and all will be charged to enter the park.
This will not be something that cannot happen, they have sold the electricity to private domain what's to stop them from selling parks.
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Arnolde E
In reference to "Why?????????"
Some airline support now will definitely yield the capital city airports with greater long term benefits as it will help to fast track the recovery cycle. The problem is that is hard for the airports to see it because everything on their side looks good no matter if times or good or bad. I don't expect the support to be from the goodness of the heart, but the support will pay the airports dividends in longer term recovery and airline activity growth.
In reference to "Why?????????"
Some airline support now will definitely yield the capital city airports with greater long term benefits as it will help to fast track the recovery cycle. The problem is that is hard for the airports to see it because everything on their side looks good no matter if times or good or bad. I don't expect the support to be from the goodness of the heart, but the support will pay the airports dividends in longer term recovery and airline activity growth.