Qantas-October 28th
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If the announcement of August was not clear enough for readers, I received this yesterday.
Dear Mr Purvinas
Qantas Sale Act (QSA)
I refer to your letter dated 26 October 2011 which included certain allegations that Qantas is not in compliance with its obligations under the QSA and the Qantas Constitution (Constitution).
Qantas and its Directors are very aware of their obligation to comply with the QSA and the
Constitution and have taken no action and do not intend to take any action which breach those
obligations.
Qantas proposes to enter joint ventures in Asia which will operate local airlines. Each of those joint ventures must be substantially owned and effectively controlled by nationals of the county in which the airline is based. If this is not done, those airlines will not be able to be designated to operate as carriers of the relevant country.
As those airlines will be substantially owned and effectively controlled by nationals of the county in which the airline is based, it will be the relevant minority owned joint venture, not Qantas, which will be conducting the relevant services. Qantas proposes to codeshare with these airlines as it currently does with many other foreign carriers.
In these circumstances, neither the QSA nor the Constitution are relevant. Even if it were possible for Qantas to own a majority of one of the proposed non-Australian airlines, neither the QSA nor the Constitution apply to operations conducted by subsidiaries.
I trust this has answered your questions.
Yours sincerely
Alan Joyce
Chief Executive
Qantas Sale Act (QSA)
I refer to your letter dated 26 October 2011 which included certain allegations that Qantas is not in compliance with its obligations under the QSA and the Qantas Constitution (Constitution).
Qantas and its Directors are very aware of their obligation to comply with the QSA and the
Constitution and have taken no action and do not intend to take any action which breach those
obligations.
Qantas proposes to enter joint ventures in Asia which will operate local airlines. Each of those joint ventures must be substantially owned and effectively controlled by nationals of the county in which the airline is based. If this is not done, those airlines will not be able to be designated to operate as carriers of the relevant country.
As those airlines will be substantially owned and effectively controlled by nationals of the county in which the airline is based, it will be the relevant minority owned joint venture, not Qantas, which will be conducting the relevant services. Qantas proposes to codeshare with these airlines as it currently does with many other foreign carriers.
In these circumstances, neither the QSA nor the Constitution are relevant. Even if it were possible for Qantas to own a majority of one of the proposed non-Australian airlines, neither the QSA nor the Constitution apply to operations conducted by subsidiaries.
I trust this has answered your questions.
Yours sincerely
Alan Joyce
Chief Executive
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So the Qantas board's business plan is to starve the Qantas Airline of capital so that it can invest billions of dollars into foreign owned and controlled businesses in which Qantas only holds a minority stake.
Maybe "13 Black" might be a better bet on the Roulette wheel at the casino!
Maybe "13 Black" might be a better bet on the Roulette wheel at the casino!
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13 Red
The sad thing is that when placing the bet AJ ignored the advice from the croupier that it would be impossible for such a bet to ever win, stating that he had heard the same sort of negative comment about the decision not to bet on 777.
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Swiss bankers I worked with had an unwritten rule...if we give you our money, WE tell you what to do.
I wonder how Mr Joyce intends to do that with a minority holding in whatever form it takes in a foreign jurisdiction.
They have not learnt a thing from Vietnam and will soon be playing with the big boys.
I say again, the shareholders clearly don't understand the risk premium attached to this strategy either because they dont care or they have been "spun". I dont think it was the former.
This is going to end badly for everyone.
I wonder how Mr Joyce intends to do that with a minority holding in whatever form it takes in a foreign jurisdiction.
They have not learnt a thing from Vietnam and will soon be playing with the big boys.
I say again, the shareholders clearly don't understand the risk premium attached to this strategy either because they dont care or they have been "spun". I dont think it was the former.
This is going to end badly for everyone.
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Letter from Joyce to Secretary of Union highlights poor command of English letter writing skills.
Poor formatting.
Shows lack of care so would this trend carry through to his capacity to scrutinise and analyse a Contract?
Mike
Poor formatting.
Shows lack of care so would this trend carry through to his capacity to scrutinise and analyse a Contract?
Mike
Thread Starter
Aaah, sorry, where does the majority of funding come from wrt these supposed ventures? ( Joint or otherwise?)
Ding, ding bloody ding Alan.
Hello?
In these circumstances, neither the QSA nor the Constitution are relevant. Even if it were possible for Qantas to own a majority of one of the proposed non-Australian airlines, neither the QSA nor the Constitution apply to operations conducted by subsidiaries.
Hello?
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And dont forget the funding will only start with the set up costs and will continue until profitability OR exit occurs and as Vietnam has shown all debts settled whether contractual or not. Nice one.
Reference to majority funding.....does anyone know if it is majority OR all funding.
Why would minorities put their hands in their pockets with such a high risk strategy? They are merely being used to access markets through some sham arrangement, so if they do end up with equity, look for some back door funding from Australia.
Reference to majority funding.....does anyone know if it is majority OR all funding.
Why would minorities put their hands in their pockets with such a high risk strategy? They are merely being used to access markets through some sham arrangement, so if they do end up with equity, look for some back door funding from Australia.
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Tomorrow night will be farcical. Might as well bring in some dancing girls, the river dancers and face painting, even fancy dress and bowties!
In fact, has anybody phoned The Chaser Boys yet, that would liven up this predictable spin wielding, lie disseminating yearly crock of ****e meeting.
As for management talking to the unions and the tension allegedly downgraded this week, it is just another textbook management tactic leading up to the meeting, shareholders, employees and the public shouldn't fall for it. One day management is talking about bargaining, the next day commiting to outsourcing more workers.Management would eat turd sandwiches this week if it meant getting their glorious remuneration packages increased tomorrow night. Don't fall for it folks, it's a tactic, an an old, boring, well used one at that.
In fact, has anybody phoned The Chaser Boys yet, that would liven up this predictable spin wielding, lie disseminating yearly crock of ****e meeting.
As for management talking to the unions and the tension allegedly downgraded this week, it is just another textbook management tactic leading up to the meeting, shareholders, employees and the public shouldn't fall for it. One day management is talking about bargaining, the next day commiting to outsourcing more workers.Management would eat turd sandwiches this week if it meant getting their glorious remuneration packages increased tomorrow night. Don't fall for it folks, it's a tactic, an an old, boring, well used one at that.
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Does anyone out there know where our good friend Senator Xenophon is at with the QSA Amendment?
And while I'm here:
Originally Posted by Qantas Sales Act 1992
change of its company name to a name that does not include
the expression “Qantas”; and
prohibit Qantas from conducting scheduled international air
transport passenger services under a name other than:
(i) its company name; or
(ii) a registered business name that includes the expression
“Qantas”; and
require that the head office of Qantas always be located in
Australia; and
require that of the facilities, taken in aggregate, which are
used by Qantas in the provision of scheduled international
air transport services (for example, facilities for the
maintenance and housing of aircraft, catering, flight
operations, training and administration), the facilities located
in Australia, when compared with those located in any other
country, must represent the principal operational centre for
Qantas; and...
If that is not in black and white, what the hell is? In a court of law I don't think AJ would be looking so smug. If nothing else, they are definitely in breach of the "intent" of the QSA when it was written.
And while I'm here:
Originally Posted by Qantas Sales Act 1992
change of its company name to a name that does not include
the expression “Qantas”; and
prohibit Qantas from conducting scheduled international air
transport passenger services under a name other than:
(i) its company name; or
(ii) a registered business name that includes the expression
“Qantas”; and
require that the head office of Qantas always be located in
Australia; and
require that of the facilities, taken in aggregate, which are
used by Qantas in the provision of scheduled international
air transport services (for example, facilities for the
maintenance and housing of aircraft, catering, flight
operations, training and administration), the facilities located
in Australia, when compared with those located in any other
country, must represent the principal operational centre for
Qantas; and...
If that is not in black and white, what the hell is? In a court of law I don't think AJ would be looking so smug. If nothing else, they are definitely in breach of the "intent" of the QSA when it was written.
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Tomorrow night will be farcical. Might as well bring in some dancing girls, the river dancers and face painting, even fancy dress and bowties!
Tonights the night!
Tanked share price.
No dividends to investors.
Death threats.
TWU stop work meetings planned for Friday.
Increased security at the AGM.
"Parked " Aircraft.
Stuff all the disrupted passengers, angry investors & disgruntled staff. Tonights cocktail party at it's "top secret" location must not be disturbed.
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"In these circumstances, neither the QSA nor the Constitution are relevant. Even if it were possible for Qantas to own a majority of one of the proposed non-Australian airlines, neither the QSA nor the Constitution apply to operations conducted by subsidiaries"
Yours sincerely Alan Joyce
Chief Executive
In that one paragraph he sums it all up. I can do what I want . Dont worry about 90 years of history , or the Australian Govt. or the Australian people.
What a lad.
Yours sincerely Alan Joyce
Chief Executive
In that one paragraph he sums it all up. I can do what I want . Dont worry about 90 years of history , or the Australian Govt. or the Australian people.
What a lad.
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CaptCloudBuster,
Congratulations!! Its so refreshing to see someone get stuck into AIPA rather than Qantas. If the Pilots or indeed other union members want to rescue any value out of their claims, your respective union leaders need a big kick in the ass!
A380 exit strategy is spot on...Don't for a moment think there is any 'real' care about the junior positions that will be lost, they just care about themselves!!
NP
Congratulations!! Its so refreshing to see someone get stuck into AIPA rather than Qantas. If the Pilots or indeed other union members want to rescue any value out of their claims, your respective union leaders need a big kick in the ass!
A380 exit strategy is spot on...Don't for a moment think there is any 'real' care about the junior positions that will be lost, they just care about themselves!!
NP
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Another one gone.
Whilst in BNE yesterday morning saw a 737-400 with qantas titles removed and a doggy tail repaint (red over roo) but not the rudder where parts of the roo were still visible depart for South. (QF6209?)
Whilst in BNE yesterday morning saw a 737-400 with qantas titles removed and a doggy tail repaint (red over roo) but not the rudder where parts of the roo were still visible depart for South. (QF6209?)
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Qantas AGM: why the gathering storm's about to break
The scene is set for a stormy Qantas annual shareholder meeting tomorrow.
Three months after the airline announced it would cut 1000 jobs and increase expansion into Asia, union heavyweights will come face-to-face with chief executive Alan Joyce and the board.
Three months after the airline announced it would cut 1000 jobs and increase expansion into Asia, union heavyweights will come face-to-face with chief executive Alan Joyce and the board.
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This whole grandstanding re the AGM is shameful and merely reinforces the "gang" now want to offend the retail shareholders.
There is simply no evidence of any meaningful threat beyond some event in May that was trotted out when it suited their cause.If there was, where were the Police charges.
This is Australia NOT the Middle East and should be seen for what it is.
I am sorry employees, but unless AJ et all are booted, the game is over and the sooner they leave our shores the better. If they take the cash, that is what the owners of the Company allowed them to do. Somehow all of those left in the ashes will learn to survive.
As for AIPA holding out some dim hope that the Govt would intervene, I hope they have something better up their sleeves because that isnt going to work and it never had a chance in hell in my books.
I am tired of this whole deceitful and dishonest game where the public are taken for fools that can be played with.
Unless something meaningful happens tomorrow, start planning to fly other airlines unless you want to contribute to the "gangs" obscene bonuses and reward their bad corporate behaviour.
I wish we were somewhere else but we are not.
There is simply no evidence of any meaningful threat beyond some event in May that was trotted out when it suited their cause.If there was, where were the Police charges.
This is Australia NOT the Middle East and should be seen for what it is.
I am sorry employees, but unless AJ et all are booted, the game is over and the sooner they leave our shores the better. If they take the cash, that is what the owners of the Company allowed them to do. Somehow all of those left in the ashes will learn to survive.
As for AIPA holding out some dim hope that the Govt would intervene, I hope they have something better up their sleeves because that isnt going to work and it never had a chance in hell in my books.
I am tired of this whole deceitful and dishonest game where the public are taken for fools that can be played with.
Unless something meaningful happens tomorrow, start planning to fly other airlines unless you want to contribute to the "gangs" obscene bonuses and reward their bad corporate behaviour.
I wish we were somewhere else but we are not.
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TIMA9X, thanks for the link. I notice the reporter referred to SP as a 'thorn in QF's side', thank god SP wasn't referred to 'as a pain in the ass', I would have been worried 
Aveng, that is hilarious! I would never have thought that AJ could be linked to a reduction in bird strikes and a reduced need for boroscopes
mstr caution, I imagine 'cocktails' will be held at The Hellfire Club' ?
Regardless, can you imaginr all those chumps sitting around comparing bonus slips, salary payslips, sipping green tea while gently eating their cucumber sandwiches, and bleating about those horrid bullyboy unions and how they are endangering the forward motion of the execs gravy train? I would imagine at some stage during the night the execs may even have a stress induced panick attack and phone Fumblenese or Fergo to 'receive some quality wet nursing and assurance that all will be ok, and come midnight friday exective remuneration and bonuses will still reign supreme'.
Toot toot, all aboard, next stop parliament house to pick up some more passengers for the gravy train, toot toot.
Aveng, that is hilarious! I would never have thought that AJ could be linked to a reduction in bird strikes and a reduced need for boroscopes
mstr caution, I imagine 'cocktails' will be held at The Hellfire Club' ?
Regardless, can you imaginr all those chumps sitting around comparing bonus slips, salary payslips, sipping green tea while gently eating their cucumber sandwiches, and bleating about those horrid bullyboy unions and how they are endangering the forward motion of the execs gravy train? I would imagine at some stage during the night the execs may even have a stress induced panick attack and phone Fumblenese or Fergo to 'receive some quality wet nursing and assurance that all will be ok, and come midnight friday exective remuneration and bonuses will still reign supreme'.
Toot toot, all aboard, next stop parliament house to pick up some more passengers for the gravy train, toot toot.