BIG Announcement coming from QF?
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Just a few thoughts..............
I'm tipping Mel heavy to close - and the work to go to Avalon - all those Forstaff people that dont need to be paid by QF........
People at Melb will be offered jobs at Avalon. Those that dont accept them will have to resign. You will still have a job - just relocated slightly.
THERE WILL BE NO PACKAGES!
Then Avalon to close and Brisbane to be the sole Facility............
Sorry to all the guys and girls who lost jobs today. Basically, QF Sydney has stolen all the Australian Airlines Jobs. I hope that when they are in the "wellness centre" in there new Multi Million dollar Wank building they stop and remember
One final thought.
If QF hadnt merged with Australian Airlines, they would have gone down the gurgler years ago...........
I'm tipping Mel heavy to close - and the work to go to Avalon - all those Forstaff people that dont need to be paid by QF........
People at Melb will be offered jobs at Avalon. Those that dont accept them will have to resign. You will still have a job - just relocated slightly.
THERE WILL BE NO PACKAGES!
Then Avalon to close and Brisbane to be the sole Facility............
Sorry to all the guys and girls who lost jobs today. Basically, QF Sydney has stolen all the Australian Airlines Jobs. I hope that when they are in the "wellness centre" in there new Multi Million dollar Wank building they stop and remember
One final thought.
If QF hadnt merged with Australian Airlines, they would have gone down the gurgler years ago...........
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Point I was making is that only QF domestic is the only part that seems to have made a profit
And there are now no ex Australian Airlines mangaement - they all got shafted long ago.........
Last count was 1 x Yank, 1 x Kiwi, and several ex Ansett........
And there are now no ex Australian Airlines mangaement - they all got shafted long ago.........
Last count was 1 x Yank, 1 x Kiwi, and several ex Ansett........
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I have compiled an analysis of the today's route cuts:
Qantas cuts India and Auckland to LA « I like to get around
Cutting AKL-LAX has meant that the LAX-JFK tag has to be bumped up to a B747. However, Alan Joyce is on record stating that the B747 is unprofitable for this flight. In particular, they are upgauging the aircraft whilst shrinking the amount of feed at LAX:
India is a low-yielding market - you could buy $800 return tickets MEL-SIN-BOM during the middle of peak season, and I contemplated using it as a cheap means of getting up to Europe in July. It seems a pity that the A333 freed up by axing BOM will not be used to open a new tag-on out of Singapore, however.
Qantas cuts India and Auckland to LA « I like to get around
Cutting AKL-LAX has meant that the LAX-JFK tag has to be bumped up to a B747. However, Alan Joyce is on record stating that the B747 is unprofitable for this flight. In particular, they are upgauging the aircraft whilst shrinking the amount of feed at LAX:
India is a low-yielding market - you could buy $800 return tickets MEL-SIN-BOM during the middle of peak season, and I contemplated using it as a cheap means of getting up to Europe in July. It seems a pity that the A333 freed up by axing BOM will not be used to open a new tag-on out of Singapore, however.
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Piss f$&ken' weak, the whole lot of you!
When is an appropriate time to start serving it back? When exactly does this mass sick day happen?
Bbbbbbbbbzbzbzbbzbzzbbzzbbzbzzzzzz
When is an appropriate time to start serving it back? When exactly does this mass sick day happen?
Bbbbbbbbbzbzbzbbzbzzbbzzbbzbzzzzzz
Interesting to read the announcement by Lufthansa Tecknik re a $30M A380 hangar in MNL and the workforce to be expanded to 2,700. I assume this is for the QF A380's
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Mr.Buzzy
I agree, everyone talks the big talk on the flight deck about a "sick out", but when it comes to it everyone is too scared....well if something is not done soon it will all be too late!
I agree, everyone talks the big talk on the flight deck about a "sick out", but when it comes to it everyone is too scared....well if something is not done soon it will all be too late!
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None of the job losses due to off-shoring. The positions are no longer required.
Once the jobs have gone, lets see how long it is before some entirely new positions are created off-shore. That's if you can spot them in the tangled web of deceit.
It's all spin.
Once the jobs have gone, lets see how long it is before some entirely new positions are created off-shore. That's if you can spot them in the tangled web of deceit.
It's all spin.
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Bidding war for Qantas base
There is an interesting reference in Plane Talking this arvo to QLD's normal habit of paying for airline investments to choose Brisbane as a base.
Ben suggests it will have to be a big inducement to secure Brisbane as the home for all Qantas heavy maintenance in time for the QLD election.
He also compares Joyce's package to the reduced profit it made.
Qantas half year results are just plane awful | Plane Talking
Ben suggests it will have to be a big inducement to secure Brisbane as the home for all Qantas heavy maintenance in time for the QLD election.
He also compares Joyce's package to the reduced profit it made.
Qantas half year results are just plane awful | Plane Talking
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How convenient - Qantas a hopeless case and struggle street Jetstar now making a group saving profit.
I think some creative accounting has been done here - And all to justify the boards evil plans.
I really hope one day the pendulum swings back and hits the like of Joyce squarely in the face.
I think some creative accounting has been done here - And all to justify the boards evil plans.
I really hope one day the pendulum swings back and hits the like of Joyce squarely in the face.
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It's all spin alright
It's all spin.
ignore the apologists, this is a terrible Qantas result
No amount of third party apologies for this morning’s announcement of the dismal financial performance of Qantas for the half year to 31 December can change the force of the figures.
The statutory Qantas net profit after tax for the period has fallen to $42 million, a decline of 83% compared to the corresponding previous half year of $ 241 million, or down to a fraction more than eight times the soaring $5 million pay package of The Australian’s most influential CEO of the year, Alan Joyce.
Never in the 90 year history of the airline has the disparity between executive reward and performance been more at variance.
By its favored metric of underlying profit before tax, the corresponding fall was from $417 million to $202 million, a 52% decline.
For ordinary shareholders the disaster is compounded by a pathetic share price and an extension of the dividend drought into its third year.
Perhaps this disaster, papered over by an assortment of public apologists this afternoon as something essential for the future health of the carrier, (which is about as silly a statement as it is possible to make) explains why Joyce seemed subdued in comparison to some of his recent performances in defence of a five year plan to return it to profitability within as little as three years.
This calls for reducing the size of the full service brand and launching a premium narrow body venture operating as a Malaysia flag carrier in order to fund a reinvestment in the full service long haul operation with the consent, of course, of the majority Malaysia ownership of the enterprise, who will be on top, very on top.
In fact this venture, for which Red Q was seriously proposed as a trendy brand name, appears to be all but dead, judging from Joyce’s commentary today.
He said negotiations were continuing with Malaysia partners to jointly launch a new brand ‘targeting’ premium travellers in Asia but that Qantas wanted a capital light structure in which it paid as little as possible for the fleet.
The point is that Kuala Lumpur is far less relevant to its premium traveller ambitions that its Singapore hub, where Qantas bases its Jetstar Asia franchise, which is the prime competitor to Malaysia’s Air Asia franchise, which in turn is seen as a partner in the premium carrier venture and happens to claim title to a significant shareholding in Malaysia Airlines through its founder Tony Fernandes.
To summarise, Joyce is still trying to set up a premium Asia flag carrier in Malaysia in conjunction with Jetstar’s most capable competitor for next to nothing in return for an earning stream he previously said would save long haul Qantas, which he further reduced today with the retirement of two more 747-400s and the cutting of routes between Singapore and Mumbai and Auckland and Los Angeles as reported in earlier coverage of today’s half yearly results.
In terms of job cuts, the news of 500 positions rendered structurally redundant from today is but a down payment.
Many of these additional as yet unannounced job losses are expected to arise from a consultative review into the consolidation of three heavy maintenance bases (Avalon 660 jobs) Melbourne Airport (400) and Brisbane (400) to determine whether they will become one or two such bases.
It would be astonishing if the Queensland government failed to behave as it has always behaved in attraction new airline industry investments, by launching a bidding war should Victoria wish to engage in one, to consolidated all Qantas heavy maintenance at Brisbane Airport. Indeed I think I heard an opening bid of $26 million in the background today! Can a deal be done before the Queensland state elections on 24 March? It seems awfully tight. $260 million might get the conversation going.
Joyce made the telling point that modern jets, like those Qantas is no longer acquiring as rapidly as intended, need a lesser investment in heavy maintenance than older designs. However he glossed over the process by which Australian engineering and maintenance standards are being harmonized downwards into world’s best practice in terms of our national regulations. World’s best practice is nothing more or less than the absolute minimum required to conform to international regulations. The regulatory reform process, which sets out to achieve admirable and desirable outcomes, also sets up spending on higher than minimum standards for a fall.
There are two issues here. Standards, and processes. The upgrading of processes as a foil for reducing the level of excellence is a sensitive issue in the US, not just in Australia.
Today’s announcement refers to reducing capital expenditure by around $700 million a year, which Joyce several weeks ago identified as the gap between around $1.7 billion in annual cash flows and a need to spend $2.5 billion a year on new fuel efficient fleet.
Perversely, part of that $700 reduction is flagged today as a consequence of deferring some new jet deliveries whose superior fuel efficiency and reduced maintenance requirements is the most important thing Qantas can do to reduce its costs.
The Qantas half yearly results assign a cost of $194 million to last year’s industrial disputes and the subsequent grounding of the airline, or locking out of its customers.
This figure could be argued as the ideological levy of the Leigh Clifford chaired Qantas on its shareholders and customers. The dispute with the licensed engineers, pilots and ground handlers led to court protected industrial action in part because of the inability of management to engage in timely negotiations. That action was eventually terminated by Fair Work Australia, the same body that allowed it, which has so far by mutual consent, approved a settlement for the licensed engineers that is totally unremarkable and could have been agreed almost a year ago.
Joyce said that none of the job losses that would result from reducing capital expenditure by $700 million a year would go offshore. They would instead disappear.
He also vowed that the greater part of heavy aircraft maintenance of Qantas jets would remain in Australia, while noting that when the much delayed Boeing 787 Dreamliners begin to arrive, they will not require any heavy maintenance for 12 years. Or so Boeing says.
It is separately understood that all the 50 Dreamliners on order will be based offshore, unless the carrier chooses to change course and use them as urgent replacements for domestic 767s which have become a major headache for the Qantas in terms of reliability and the costs of aged airframe maintenance.
What does this mean for Qantas customers? Fuller domestic jets, and even fewer international options than now in terms of flying in Qantas jets rather than mid-trip changes to other foreign carriers.
What does it mean for Qantas employees? Continued fears of substantial job losses.
What does it mean for Qantas shareholders? No sign of dividends, and every sign of a share price, which despite a 6% spike this afternoon, is way short of its listing price in 1995 dollars, and wallowing in its most prolonged state of depression since privatization
No amount of third party apologies for this morning’s announcement of the dismal financial performance of Qantas for the half year to 31 December can change the force of the figures.
The statutory Qantas net profit after tax for the period has fallen to $42 million, a decline of 83% compared to the corresponding previous half year of $ 241 million, or down to a fraction more than eight times the soaring $5 million pay package of The Australian’s most influential CEO of the year, Alan Joyce.
Never in the 90 year history of the airline has the disparity between executive reward and performance been more at variance.
By its favored metric of underlying profit before tax, the corresponding fall was from $417 million to $202 million, a 52% decline.
For ordinary shareholders the disaster is compounded by a pathetic share price and an extension of the dividend drought into its third year.
Perhaps this disaster, papered over by an assortment of public apologists this afternoon as something essential for the future health of the carrier, (which is about as silly a statement as it is possible to make) explains why Joyce seemed subdued in comparison to some of his recent performances in defence of a five year plan to return it to profitability within as little as three years.
This calls for reducing the size of the full service brand and launching a premium narrow body venture operating as a Malaysia flag carrier in order to fund a reinvestment in the full service long haul operation with the consent, of course, of the majority Malaysia ownership of the enterprise, who will be on top, very on top.
In fact this venture, for which Red Q was seriously proposed as a trendy brand name, appears to be all but dead, judging from Joyce’s commentary today.
He said negotiations were continuing with Malaysia partners to jointly launch a new brand ‘targeting’ premium travellers in Asia but that Qantas wanted a capital light structure in which it paid as little as possible for the fleet.
The point is that Kuala Lumpur is far less relevant to its premium traveller ambitions that its Singapore hub, where Qantas bases its Jetstar Asia franchise, which is the prime competitor to Malaysia’s Air Asia franchise, which in turn is seen as a partner in the premium carrier venture and happens to claim title to a significant shareholding in Malaysia Airlines through its founder Tony Fernandes.
To summarise, Joyce is still trying to set up a premium Asia flag carrier in Malaysia in conjunction with Jetstar’s most capable competitor for next to nothing in return for an earning stream he previously said would save long haul Qantas, which he further reduced today with the retirement of two more 747-400s and the cutting of routes between Singapore and Mumbai and Auckland and Los Angeles as reported in earlier coverage of today’s half yearly results.
In terms of job cuts, the news of 500 positions rendered structurally redundant from today is but a down payment.
Many of these additional as yet unannounced job losses are expected to arise from a consultative review into the consolidation of three heavy maintenance bases (Avalon 660 jobs) Melbourne Airport (400) and Brisbane (400) to determine whether they will become one or two such bases.
It would be astonishing if the Queensland government failed to behave as it has always behaved in attraction new airline industry investments, by launching a bidding war should Victoria wish to engage in one, to consolidated all Qantas heavy maintenance at Brisbane Airport. Indeed I think I heard an opening bid of $26 million in the background today! Can a deal be done before the Queensland state elections on 24 March? It seems awfully tight. $260 million might get the conversation going.
Joyce made the telling point that modern jets, like those Qantas is no longer acquiring as rapidly as intended, need a lesser investment in heavy maintenance than older designs. However he glossed over the process by which Australian engineering and maintenance standards are being harmonized downwards into world’s best practice in terms of our national regulations. World’s best practice is nothing more or less than the absolute minimum required to conform to international regulations. The regulatory reform process, which sets out to achieve admirable and desirable outcomes, also sets up spending on higher than minimum standards for a fall.
There are two issues here. Standards, and processes. The upgrading of processes as a foil for reducing the level of excellence is a sensitive issue in the US, not just in Australia.
Today’s announcement refers to reducing capital expenditure by around $700 million a year, which Joyce several weeks ago identified as the gap between around $1.7 billion in annual cash flows and a need to spend $2.5 billion a year on new fuel efficient fleet.
Perversely, part of that $700 reduction is flagged today as a consequence of deferring some new jet deliveries whose superior fuel efficiency and reduced maintenance requirements is the most important thing Qantas can do to reduce its costs.
The Qantas half yearly results assign a cost of $194 million to last year’s industrial disputes and the subsequent grounding of the airline, or locking out of its customers.
This figure could be argued as the ideological levy of the Leigh Clifford chaired Qantas on its shareholders and customers. The dispute with the licensed engineers, pilots and ground handlers led to court protected industrial action in part because of the inability of management to engage in timely negotiations. That action was eventually terminated by Fair Work Australia, the same body that allowed it, which has so far by mutual consent, approved a settlement for the licensed engineers that is totally unremarkable and could have been agreed almost a year ago.
Joyce said that none of the job losses that would result from reducing capital expenditure by $700 million a year would go offshore. They would instead disappear.
He also vowed that the greater part of heavy aircraft maintenance of Qantas jets would remain in Australia, while noting that when the much delayed Boeing 787 Dreamliners begin to arrive, they will not require any heavy maintenance for 12 years. Or so Boeing says.
It is separately understood that all the 50 Dreamliners on order will be based offshore, unless the carrier chooses to change course and use them as urgent replacements for domestic 767s which have become a major headache for the Qantas in terms of reliability and the costs of aged airframe maintenance.
What does this mean for Qantas customers? Fuller domestic jets, and even fewer international options than now in terms of flying in Qantas jets rather than mid-trip changes to other foreign carriers.
What does it mean for Qantas employees? Continued fears of substantial job losses.
What does it mean for Qantas shareholders? No sign of dividends, and every sign of a share price, which despite a 6% spike this afternoon, is way short of its listing price in 1995 dollars, and wallowing in its most prolonged state of depression since privatization
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Let me get this right.
We have a CEO who picks fights with his staff (only later to go back and agree to a deal that was on the table back in March last year), grounds the airline for days and then claims that engineering needs to be downsized due to a lower profit. This lower profit was only caused by him and the board.
I am pretty sure that if the engineers go back to a work to rule (as per the Qantas policy manual) it would be proven that there are not enough engineers to handle the current workload. If they just happened to play dirty and "go slow" as well, the airline would be in all sorts of trouble.
Luckily for Qantas, the only people willing to play dirty are AJ and his grubby little board.
This is an airline founded by pilots and engineers that is being destroyed by corporate greed. I have seen nothing but absolute integrity shown by the engineers through this whole debacle.
Can't say the same for the greedy dirtbags who run this company.
Rant over.
We have a CEO who picks fights with his staff (only later to go back and agree to a deal that was on the table back in March last year), grounds the airline for days and then claims that engineering needs to be downsized due to a lower profit. This lower profit was only caused by him and the board.
I am pretty sure that if the engineers go back to a work to rule (as per the Qantas policy manual) it would be proven that there are not enough engineers to handle the current workload. If they just happened to play dirty and "go slow" as well, the airline would be in all sorts of trouble.
Luckily for Qantas, the only people willing to play dirty are AJ and his grubby little board.
This is an airline founded by pilots and engineers that is being destroyed by corporate greed. I have seen nothing but absolute integrity shown by the engineers through this whole debacle.
Can't say the same for the greedy dirtbags who run this company.
Rant over.
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gobbledock
Thats a great idea!
"hello I would like a big mac and french fries thanks", "Oh and do you know this guy he is the boss of Q, he is a real
"?
Well I will let you order your food first as I will be pi$$ing myself laughing at you.
THE PUBLIC DOESN'T care...how long until we realise it. The public (including the media) can not and will never be able to tell a business how to run.
The only thing that can be done is sickouts, go slow programs etc. As for the SMH or any other media ringing Q and saying "come on please do it or I will spread a bad word with you at famous restaurant chains is not going to do anything!
BIG business ($$$) - Vs whats right = Business will always win in reality
But certainly keep the great ideas flowing
Thats a great idea!
"hello I would like a big mac and french fries thanks", "Oh and do you know this guy he is the boss of Q, he is a real
"?Well I will let you order your food first as I will be pi$$ing myself laughing at you.
THE PUBLIC DOESN'T care...how long until we realise it. The public (including the media) can not and will never be able to tell a business how to run.
The only thing that can be done is sickouts, go slow programs etc. As for the SMH or any other media ringing Q and saying "come on please do it or I will spread a bad word with you at famous restaurant chains is not going to do anything!
BIG business ($$$) - Vs whats right = Business will always win in reality
But certainly keep the great ideas flowing
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No one has mentioned the most telling absence...where is the news on Red Q or whatever it is called.
How long can AJ get away with this complete con and no one holds him to account.
I thought Execs were paid to actually run an airline. these idiots have no strategy, no vision for the future and just keep shutting things down. Any idiot could do that, so why are they worth millions?
How long can AJ get away with this complete con and no one holds him to account.
I thought Execs were paid to actually run an airline. these idiots have no strategy, no vision for the future and just keep shutting things down. Any idiot could do that, so why are they worth millions?
