QANTAS - WHERE TO NOW?
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A disgruntled shareholder has accused the Qantas Airways board of "destroying" the airline's international
Also, the shareholder said management and the board had shown "disloyalty" to staff, given "the way you sit up here and blame everybody".
"You have sold out and you have sold Qantas out," the shareholder said at Qantas's annual general meeting in Canberra on Friday.
"You have actually destroyed the international brand."
Also, the shareholder said management and the board had shown "disloyalty" to staff, given "the way you sit up here and blame everybody".
"You have sold out and you have sold Qantas out," the shareholder said at Qantas's annual general meeting in Canberra on Friday.
"You have actually destroyed the international brand."
LC replies with the comment "International is in good shape"
Sorry for the sound quality, (poor mobile connection) I have doctored it up the best I can.... more to come.... I hope.
again sorry for the qualityAlso another view from the smh...
While the Qantas CEO tells his annual general meeting a story about a pivotal year and a turnaround platform, the navigator’s guidance on where Qantas is heading can be found in the company’s latest passenger and capacity figures – Qantas is on course to become Jetstar’s tail.
Whether it will be wagging or not is open to question.
This week’s stock exchange release showed Qantas Airways Group passenger numbers up 2.9 per cent in September, but Qantas domestic and international both went backwards while Jetstar’s various brands soared.
The Qantas domestic brand recorded a 4.2 per cent fall in passenger numbers to 1.4 million. Jetstar domestic passengers jumped 14.5 per cent to 1 million. Qantas international passengers dropped 4.6 per cent to 484,000. Jetstar international grew 12.5 per cent to 418,000.
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If you add Jetstar Asia’s 269,000 passengers (up 6.9 per cent), Jetstar’s overseas numbers have overtaken the fading Qantas international figures.
The international trend is even more pronounced for the September quarter: Qantas international 1,430,000 passengers, down 5.9 per cent; Jetstar international passengers 1,287,000 passengers, up 13.4 per cent; Jetstar Asia 852,000 passengers, up 15.7 per cent.
Over the quarter, Qantas domestic carried 4,350,000 passengers, down 2.3 per cent, while Jetstar took off with 2,894,000 passenger, up 6 per cent.
The reason for the particularly strong Jetstar domestic surge in September can be found in the capacity given to the low cost carrier – available seat kilometres (ASKs) soared 21.2 per cent to 1,514,000 while Qantas domestic ASKs contracted 2.6 per cent to 2,706,000.
What matters more to shareholders are the statistics for revenue passenger kilometres (RPKs). In September, Jetstar domestic RPKs were up 16.1 per cent while Qantas domestic fell 2.4 per cent. Qantas international RPKs fell 5.9 per cent; Jetstar international rose 16.5 per cent and Jetstar Asia lost 5.1 per cent.
These trends holding will soon enough result in Jetstar overtaking Qantas as the major business. Handing the delayed 787s to the low cost player reinforces the Flying Roo’s direction, or perhaps Jetstar’s direction.
Yet the increased Jetstar capacity isn’t winning much applause among analysts. Goldman Sachs’ aviation number checkers have maintained their “neutral” rating on Qantas, but downgraded the 12-month price target from $1.50 to $1.44 a share – and that price target is based on relative price earnings ratios.
GS sees continued weakness in domestic airfares and load factors overpowering the benefits of near-term cheaper jet fuel.
Whether it will be wagging or not is open to question.
This week’s stock exchange release showed Qantas Airways Group passenger numbers up 2.9 per cent in September, but Qantas domestic and international both went backwards while Jetstar’s various brands soared.
The Qantas domestic brand recorded a 4.2 per cent fall in passenger numbers to 1.4 million. Jetstar domestic passengers jumped 14.5 per cent to 1 million. Qantas international passengers dropped 4.6 per cent to 484,000. Jetstar international grew 12.5 per cent to 418,000.
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If you add Jetstar Asia’s 269,000 passengers (up 6.9 per cent), Jetstar’s overseas numbers have overtaken the fading Qantas international figures.
The international trend is even more pronounced for the September quarter: Qantas international 1,430,000 passengers, down 5.9 per cent; Jetstar international passengers 1,287,000 passengers, up 13.4 per cent; Jetstar Asia 852,000 passengers, up 15.7 per cent.
Over the quarter, Qantas domestic carried 4,350,000 passengers, down 2.3 per cent, while Jetstar took off with 2,894,000 passenger, up 6 per cent.
The reason for the particularly strong Jetstar domestic surge in September can be found in the capacity given to the low cost carrier – available seat kilometres (ASKs) soared 21.2 per cent to 1,514,000 while Qantas domestic ASKs contracted 2.6 per cent to 2,706,000.
What matters more to shareholders are the statistics for revenue passenger kilometres (RPKs). In September, Jetstar domestic RPKs were up 16.1 per cent while Qantas domestic fell 2.4 per cent. Qantas international RPKs fell 5.9 per cent; Jetstar international rose 16.5 per cent and Jetstar Asia lost 5.1 per cent.
These trends holding will soon enough result in Jetstar overtaking Qantas as the major business. Handing the delayed 787s to the low cost player reinforces the Flying Roo’s direction, or perhaps Jetstar’s direction.
Yet the increased Jetstar capacity isn’t winning much applause among analysts. Goldman Sachs’ aviation number checkers have maintained their “neutral” rating on Qantas, but downgraded the 12-month price target from $1.50 to $1.44 a share – and that price target is based on relative price earnings ratios.
GS sees continued weakness in domestic airfares and load factors overpowering the benefits of near-term cheaper jet fuel.
Last edited by TIMA9X; 2nd Nov 2012 at 11:31. Reason: add to related content
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The Qantas domestic brand recorded a 4.2 per cent fall in passenger numbers to 1.4 million. Jetstar domestic passengers jumped 14.5 per cent to 1 million.
Qantas international passengers dropped 4.6 per cent to 484,000. Jetstar
international grew 12.5 per cent to 418,000.
If you add Jetstar Asia’s 269,000 passengers (up 6.9 per cent),
Jetstar’s overseas numbers have overtaken the fading Qantas international figures.
The international trend is even more pronounced for the
September quarter: Qantas international 1,430,000 passengers, down 5.9 per cent; Jetstar international passengers 1,287,000 passengers, up 13.4 per cent; Jetstar Asia 852,000 passengers, up 15.7 per cent.
Qantas international passengers dropped 4.6 per cent to 484,000. Jetstar
international grew 12.5 per cent to 418,000.
If you add Jetstar Asia’s 269,000 passengers (up 6.9 per cent),
Jetstar’s overseas numbers have overtaken the fading Qantas international figures.
The international trend is even more pronounced for the
September quarter: Qantas international 1,430,000 passengers, down 5.9 per cent; Jetstar international passengers 1,287,000 passengers, up 13.4 per cent; Jetstar Asia 852,000 passengers, up 15.7 per cent.
The NZ passenger numbers cannot even be properly verified, as that country publishes NO stats on passenger numbers.
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Question regarding theQantas PR department performance
Interesting Question regarding the Qantas PR department... I thought it was a bit unfair to imply or single out media blame to the smh only, (see above clip,) many other media outfits reported negative vibes as well, journalists have a sense of the public mood..... as well as the business communities mood..
Possibly "the good news messages" got lost because of the general perception created in the public by management decisions as well... a lot of people believe the Q PR communications /marketing depts haven't kicked too many goals since the grounding a year ago..
Having said that, the honcho's on the podium at that AGM today would be celebrating tonight...... they got away with it, and with little media attention or much public interest....
finally a variety of questions, some friendly others not so, including one from (Jack T, still grumpy from last year, gave the management and board a score out of ten! (god love him) go Jack.. chuckle
again sorry for the quality... it was the best I could do considering how far away I was from a good connection... hope it helps someone who wanted to catch up... same old same old...
for me, after today, I needed to go find a laugh... after all, it is the weekend..again....
.
Last edited by TIMA9X; 2nd Nov 2012 at 16:31. Reason: ad a joke
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Soooo...... The one time in the year the shareholders can hold their management accountable and they give AJ another chance?!? 98% agreeing to give him his 3 year bonus of 2.5mil if he meets his kpi!? What are they smoking?! He should have to give back 2.5mil for being an incompetent turd for the last 4 years.
Last edited by bddbism; 2nd Nov 2012 at 23:44.
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AGM Summary
two interesting clips
Union stunt causes Qantas confusion
good little summary of the days events here,
for those who missed it.
Union stunt causes Qantas confusion
good little summary of the days events here,
for those who missed it.
Last edited by TIMA9X; 6th Nov 2012 at 16:10.
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A Very Good Sandiland Question
"Which is why instead of dramatically going for both the customers and the unions in one grandstanding hit, why didn’t Alan Joyce announce that unless the intolerable provocation of protected industrial action was ended forthwith by Fair Work Australia, he would indeed, have no option but to lock out both the customers and workers early the following week in order bring matters to a head, as Qantas was entitled to do, in law, but without causing so much misery to everyone.
Joyce would have achieved precisely what he achieved with the grounding, without costing the company anything like the same amount of money, without ruining the travel arrangements of 70,000 passengers, and without inflicting the longer term damage to the reputation and brand of Qantas which he says was miraculously totally 100% reversed and even further improved by the end of last November."
Joyce would have achieved precisely what he achieved with the grounding, without costing the company anything like the same amount of money, without ruining the travel arrangements of 70,000 passengers, and without inflicting the longer term damage to the reputation and brand of Qantas which he says was miraculously totally 100% reversed and even further improved by the end of last November."
Last edited by fishers.ghost; 6th Nov 2012 at 22:10.
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'Having people do maintenance on aircraft that doesn't need maintenance - and no other airline in the world does that - is not viable.
Surely no-one is silly enough to believe that new planes require no maint, or that the new B1 system is a solution by halving the workforce.
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Surely no-one is silly enough to believe that new planes require no maint
fischers.ghost, go back and read my post #1144 in this thread. Perhaps things are not always as they seem, perhaps there was another reason for the lock-out. Could the industrial dispute be a smoke screen to justify such an apparently self-defeating act of commercial stupidity. The actions of the lock-out do not appear consistent with the threat, exactly as you say. There are ways to publicly signal certain course of action, yet these were not used. The only conclusion is that the intention was to generate a shock, the question is why? There may be a method to the madness.
Last edited by TheWholeEnchilada; 7th Nov 2012 at 00:00.
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Orwell would also say "two engines are better than four"
Trying to raise the share price by speculating on dividends.
Guess what - no one is buying it.
They should be doing a buyback.
Not the only thing that is arse about.
Trying to raise the share price by speculating on dividends.
Guess what - no one is buying it.
They should be doing a buyback.
Not the only thing that is arse about.
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Crystal, a buyback to me is what boards do when they have spare capital and no idea what to do with it. Sure the share price is down but they have committed a lot of capital on 320s.
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Qantas axes another 500 jobs
Just in,
Qantas axes another 500 jobs
Qantas axes another 500 jobs
Qantas is cutting another 500 engineering jobs in Sydney and at Avalon Airport in Victoria as the airline steps up the consolidation of its heavy maintenance bases from two to one.
About 200 of the latest job cuts will be to line-maintenance roles at Qantas’s jet base at Sydney Airport and the remainder mostly from heavy maintenance at Avalon Airport near Geelong.
The airline has decided to cut jobs in Sydney because it believes it has an oversupply of line-maintenance engineers. They undertake day-to-day servicing of aircraft.
The latest cuts in Victoria are to engineers who have been reconfiguring Qantas’s nine remaining Boeing 747-400 aircraft. The last of the jumbos will be completed by the end of this month.
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About 250 of the workers to go at Avalon are contractors.
Qantas will also reduce its workforce at Qantas Defence Services which conducts maintenance on the Defence Forces’s C130 Hercules aircraft.
As well, it will consolidate bits engineering training facilities from Melbourne to Sydney.
Boosting Brisbane
However, Qantas will boost its workforce at its heavy maintenance base at Brisbane Airport by 100, and the airline has emphasised that the latest cuts will result in a net loss of about 400 jobs.
It takes the total number of jobs axed from Qantas’s engineering operations this year to about 1260, and is a further blow to Victoria’s manufacturing industries.
Qantas closed its heavy maintenance base at Melbourne’s Tullamarine Airport in August, resulting in the loss of 422 jobs. A further 113 positions have already gone from its other engineering facility at the Lindsay Fox-owned Avalon Airport due to a reduction in the work there.
It will leave engineering workforce at Avalon at several hundred.
The airline has repeatedly flagged that it plans to eventually close the heavy maintenance base at Avalon Airport, and shift the work to its eight-year-old Brisbane base.
Since closing the Tullamarine base, Qantas has shifted work on its 737 fleet to the Brisbane maintenance facility. Avalon will continue to maintain the remaining 747 fleet.
Qantas’s total engineering workforce totals about 5000, some of whom are contractors.
Union blasts cuts
The aircraft engineers’ union has described the latest jobs cuts as ‘‘another step towards turning our national carrier into an unsafe airline’’.
The Australian Licensed Aircraft Engineers Association’s federal secretary, Steve Purvinas, said under staffing at the airline was ‘‘becoming dangerous and Qantas management are disregarding basic laws of aviation safety’’.
“It beggars belief that Qantas management's answer to a recent spate of maintenance errors, many being investigated by CASA, is to sack more staff,” he said in a statement.
“Given the rising number of errors and the potentially serious nature of some of these, we’re calling on Qantas to reverse these job cuts.’’
But the chief executive of Qantas’s domestic operations, Lyell Strambi, said the airline’s fleet of more modern planes had reduced the amount of maintenance required.
‘‘Our commitment to setting a global standard for safety and quality in airline maintenance will never change,’’ he said in a statement.
Mr Strambi said the cost of its heavy maintenance was more than 30 per cent higher than Qantas’s competitors, and the airline needed to close the gap to secure its ‘‘future viability’’.
‘‘This restructure will assist in making Qantas maintenance facilities in Australia more competitive,” he said. “Qantas will continue to make further changes to our engineering division as newer technology and improved processes enable us to become more efficient.”
The airline has yet to set a timeline for when it will close the Avalon base, and centralise its engineering operations at one facility in Brisbane.
Read more: Qantas axes another 500 jobs
About 200 of the latest job cuts will be to line-maintenance roles at Qantas’s jet base at Sydney Airport and the remainder mostly from heavy maintenance at Avalon Airport near Geelong.
The airline has decided to cut jobs in Sydney because it believes it has an oversupply of line-maintenance engineers. They undertake day-to-day servicing of aircraft.
The latest cuts in Victoria are to engineers who have been reconfiguring Qantas’s nine remaining Boeing 747-400 aircraft. The last of the jumbos will be completed by the end of this month.
Advertisement
About 250 of the workers to go at Avalon are contractors.
Qantas will also reduce its workforce at Qantas Defence Services which conducts maintenance on the Defence Forces’s C130 Hercules aircraft.
As well, it will consolidate bits engineering training facilities from Melbourne to Sydney.
Boosting Brisbane
However, Qantas will boost its workforce at its heavy maintenance base at Brisbane Airport by 100, and the airline has emphasised that the latest cuts will result in a net loss of about 400 jobs.
It takes the total number of jobs axed from Qantas’s engineering operations this year to about 1260, and is a further blow to Victoria’s manufacturing industries.
Qantas closed its heavy maintenance base at Melbourne’s Tullamarine Airport in August, resulting in the loss of 422 jobs. A further 113 positions have already gone from its other engineering facility at the Lindsay Fox-owned Avalon Airport due to a reduction in the work there.
It will leave engineering workforce at Avalon at several hundred.
The airline has repeatedly flagged that it plans to eventually close the heavy maintenance base at Avalon Airport, and shift the work to its eight-year-old Brisbane base.
Since closing the Tullamarine base, Qantas has shifted work on its 737 fleet to the Brisbane maintenance facility. Avalon will continue to maintain the remaining 747 fleet.
Qantas’s total engineering workforce totals about 5000, some of whom are contractors.
Union blasts cuts
The aircraft engineers’ union has described the latest jobs cuts as ‘‘another step towards turning our national carrier into an unsafe airline’’.
The Australian Licensed Aircraft Engineers Association’s federal secretary, Steve Purvinas, said under staffing at the airline was ‘‘becoming dangerous and Qantas management are disregarding basic laws of aviation safety’’.
“It beggars belief that Qantas management's answer to a recent spate of maintenance errors, many being investigated by CASA, is to sack more staff,” he said in a statement.
“Given the rising number of errors and the potentially serious nature of some of these, we’re calling on Qantas to reverse these job cuts.’’
But the chief executive of Qantas’s domestic operations, Lyell Strambi, said the airline’s fleet of more modern planes had reduced the amount of maintenance required.
‘‘Our commitment to setting a global standard for safety and quality in airline maintenance will never change,’’ he said in a statement.
Mr Strambi said the cost of its heavy maintenance was more than 30 per cent higher than Qantas’s competitors, and the airline needed to close the gap to secure its ‘‘future viability’’.
‘‘This restructure will assist in making Qantas maintenance facilities in Australia more competitive,” he said. “Qantas will continue to make further changes to our engineering division as newer technology and improved processes enable us to become more efficient.”
The airline has yet to set a timeline for when it will close the Avalon base, and centralise its engineering operations at one facility in Brisbane.
Read more: Qantas axes another 500 jobs
And those modern A380 aircraft don't need any maintenance at all.
Alan you are a d1ckhead who needs to walk through the maintenance areas to see what happens
The dugong is the most labour intensive pig in the fleet. Even Mr Harris and Nassenstien agree.
The 330s aren't getting any younger, and with pornstar lacking skills and equipment to maintain there fleet who are they going to turn to when the going gets tough?
And are they going to increase numbers when the 330s start coming back?
Alan you are a d1ckhead who needs to walk through the maintenance areas to see what happens
The dugong is the most labour intensive pig in the fleet. Even Mr Harris and Nassenstien agree.
The 330s aren't getting any younger, and with pornstar lacking skills and equipment to maintain there fleet who are they going to turn to when the going gets tough?
And are they going to increase numbers when the 330s start coming back?
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Quote from AJ at the last AGM...
"In August last year I sent out the five-year plan for Qantas International along with the broader transformation initiatives for the group as a whole. The plan has the goal of returning Qantas international to profit in the short term. It will restore a great Australian airline to financial health, with Jetstar the only Australian-owned international airline serving this country."
I'm easily confused, but to me it looks like Qantas International will be returned to profit in the short term and then be absorbed into Jetstar International because Jetstar will be the only Australian owned international airline.
Does that statement mean that QF International will be history within 5 years?
I was never any good at interpreting corporate doublespeak though.
"In August last year I sent out the five-year plan for Qantas International along with the broader transformation initiatives for the group as a whole. The plan has the goal of returning Qantas international to profit in the short term. It will restore a great Australian airline to financial health, with Jetstar the only Australian-owned international airline serving this country."
I'm easily confused, but to me it looks like Qantas International will be returned to profit in the short term and then be absorbed into Jetstar International because Jetstar will be the only Australian owned international airline.
Does that statement mean that QF International will be history within 5 years?
I was never any good at interpreting corporate doublespeak though.