Qantas August 23rd announcements
Join Date: Feb 2011
Location: Exiled in the Ukraine
Posts: 269
Likes: 0
Received 0 Likes
on
0 Posts
Go to BBC - Homepage business, search Qantas.
The thing I found interesting about this blog was not what was said but the fact that in one of the shots of the room during the press conference there was basically no one there!
Hopefully a clear sign the journalist have lost interest in what Alan has to say? Maybe they know this is a dead man walking so what's the point of waisting a day going along to listen to his drivvle.
Some friends in the know reinforce that view, and I am led to believe sooner than later he is gone. Let's all hope.
The thing I found interesting about this blog was not what was said but the fact that in one of the shots of the room during the press conference there was basically no one there!
Hopefully a clear sign the journalist have lost interest in what Alan has to say? Maybe they know this is a dead man walking so what's the point of waisting a day going along to listen to his drivvle.
Some friends in the know reinforce that view, and I am led to believe sooner than later he is gone. Let's all hope.
Join Date: Jan 2008
Location: Tallong NSW
Posts: 280
Likes: 0
Received 0 Likes
on
0 Posts
He keeps being allowed to get away with saying the high dollar hurts when it should have ameliorated the price of fuel.
Reading everything I can, and watching everything I could I didn't believe a word of it. This misleading drivel stands in sharp contrast to the actual detail in the ASX announcements.
Qantas has been stripped of new long haul international jets. No-one is paying attention, and that includes a large number of people on this forum who while they dislike Joyce very strongly, didn't seem to realise how despicable the fleet changes are. This was the killer hit when it comes to the future of Qantas long haul.
It's finished. Pick up your stuff and leave the hangar.
Reading everything I can, and watching everything I could I didn't believe a word of it. This misleading drivel stands in sharp contrast to the actual detail in the ASX announcements.
Qantas has been stripped of new long haul international jets. No-one is paying attention, and that includes a large number of people on this forum who while they dislike Joyce very strongly, didn't seem to realise how despicable the fleet changes are. This was the killer hit when it comes to the future of Qantas long haul.
It's finished. Pick up your stuff and leave the hangar.
I don't bother commenting much on QF these days, there doesn't seem any point.
The mugs that are running the place are infantile in their behaviour and outlook.
To put that another way, If I, when I was a CEO of a tiny company, told my Board that my grand strategy was to go into China, then turn tail and run like hell from that idea six months later, the Board would have rightly sacked me on the spot for incompetence.
To put that another way, my chairman (who was used to doing due diligence on multi billion dollar mining projects) would have had me explaining in detail why my China project was such a good idea and the thinking behind it, before I embarked on it.
The second external director on that Board - who was used to handling billion dollar corporate turnarounds and sat on a number of corporate boards and Government Authorities would have followed up on the Chairman with a graphic description of exactly what was going to happen to me if I stuffed up the execution of the strategy - and meant it.
To put that another way, if there is no way that the CEO of even a tiny company could get away with such incompetence, why the fcuk is Alan Joyce and the Qantas Board?
To put that yet another way, why aren't there penalties for the Board and Alan Joyce for their belated decision to cancel a stack of B787???????
Why aren't people questioning their judgement? The decision to wait for the B787 consumed that one irreplaceable resource - TIME!!!!!!!!!!!
The mugs that are running the place are infantile in their behaviour and outlook.
To put that another way, If I, when I was a CEO of a tiny company, told my Board that my grand strategy was to go into China, then turn tail and run like hell from that idea six months later, the Board would have rightly sacked me on the spot for incompetence.
To put that another way, my chairman (who was used to doing due diligence on multi billion dollar mining projects) would have had me explaining in detail why my China project was such a good idea and the thinking behind it, before I embarked on it.
The second external director on that Board - who was used to handling billion dollar corporate turnarounds and sat on a number of corporate boards and Government Authorities would have followed up on the Chairman with a graphic description of exactly what was going to happen to me if I stuffed up the execution of the strategy - and meant it.
To put that another way, if there is no way that the CEO of even a tiny company could get away with such incompetence, why the fcuk is Alan Joyce and the Qantas Board?
To put that yet another way, why aren't there penalties for the Board and Alan Joyce for their belated decision to cancel a stack of B787???????
Why aren't people questioning their judgement? The decision to wait for the B787 consumed that one irreplaceable resource - TIME!!!!!!!!!!!
Last edited by Sunfish; 23rd Aug 2012 at 21:12.
Join Date: Oct 2005
Location: dessert island
Posts: 226
Likes: 0
Received 0 Likes
on
0 Posts
"i tink customer satisfaction levels are back to their usual, 'helty' levels"????
Mate, you left thousands of poor passengers stranded all over the world.
Wow, 90 years of aviation greatness to be left in the hands of this guy. Make no mistake, I'm never the most popular bloke at a party, but when i See AJ on TV - I feel pretty good.
Does the board have the power to sack him?
Mate, you left thousands of poor passengers stranded all over the world.
Wow, 90 years of aviation greatness to be left in the hands of this guy. Make no mistake, I'm never the most popular bloke at a party, but when i See AJ on TV - I feel pretty good.
Does the board have the power to sack him?
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by stubby
Rather than trying to use lies and spin.......why not use a strategy that customers want:
HONESTY AND TRUTH.
HONESTY AND TRUTH.
What customers want is a decent level of service at a price they're willing to pay. Other factors will affect that price, the brand perception of Qantas, the feelgood factor, how it's marketed to them etc but the bottom line is that we buy plenty of stuff without considering the honesty of the seller.
Used cars, property, even jobs when it boils down to it, and all cost far more than an airline ticket.
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Iver
How will operating older generation fleet like the 400s and 767s help Qantas weather the rising cost of fuel?
So let's say you spend $100M (to make the maths easy) on a new aircraft.
The interest component alone on that purchase will be about $10M p.a.
Depreciation over a 15 year period will be another $6M p.a. if we allow for a $10M salvage value.
So that new aircraft costs you $16M p.a. over the old paid off fully depreciated aircraft.
That buys a lot of fuel and maintenance before you break even.
think of the cars you see on the road. If the true cost of car ownership was fuel and maintenance then everyone would be driving pretty much brand new cars. Instead we get a mix, some people who can afford it buy new toys because they get a real buzz out of it, others like me usually buy cars that are 3 years old as they come off someone else's lease because that way you get pretty much everything a new car had but someone else has worn the first 50% of depreciation, others buy cars in the 4-8 year range because they have depreciated by 50% of the remaining value (i.e. now at about 25% of original cost), all the way down to people who buy clapped out old bangers that just scrape through registration checks because they're dirt cheap. Sure they use a bit more fuel, they break down a bit more, but you get a car that goes from A to B (usually) and it just costs you a few bucks extra a week instead of a whole lot of cash up front (and whilst it's important the net present value of cash is another reason to use older equipment) or committing to a loan that has a weekly payment exceeding the cost of that extra fuel and maintenance.
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jaba
Like most Australians Qantas is the Aussie Brand. Germany has Mercedes Benz, The USA GM or Ford, Microsoft or Apple. Ask a foreigner about what iconic Aussie brands there are, and it was Qantas. Soon it will be Fosters
You do realise Mercedes make more cars outside of Germany than within? BMWs are generally made in either China or South Africa?
GM and Ford are struggling and have struggled for a long time - GM went through Chapter 11 in 2009 to replace employee agreements with significantly less beneficial ones as well as a whole raft of debt.
Microsoft and Apple have both been to the brink and have radically restructured themselves in order to stop going broke.
Your list ultimately argues for Joyce and Co to go much much HARDER attacking working conditions than they currently are.
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by aeromedic
They just HAVE TO rein the costs of fuel. Their hedging strategy has failed dismally during a period of falling oil prices and high AUS$.
If this board get an alliance with Emirates that DOES NOT include access to cheaper fuel, then the losses will continue.
Is there no end to the mistakes and ill-conceived plans of this board?
If this board get an alliance with Emirates that DOES NOT include access to cheaper fuel, then the losses will continue.
Is there no end to the mistakes and ill-conceived plans of this board?
BUT
The person selling you the fuel knows this game as well. So they add a premium to cover their risk. Nobody wants to sell you fuel at less than market rate so hedging effectively is you finding the person who will take the greatest amount of uncharged for risk on fuel prices.
The key advantage of hedging is NOT reduced cost but cost certainty allowing more effective budgeting (ticket prices, yield calcs etc that you base decisions on) and management decision making.
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by denabol
He keeps being allowed to get away with saying the high dollar hurts when it should have ameliorated the price of fuel.
Join Date: Feb 2007
Location: Melbourne
Age: 57
Posts: 628
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by sunfish
To put that yet another way, why aren't there penalties for the Board and Alan Joyce for their belated decision to cancel a stack of B787???????
The aircraft is late.
He's getting about $100M in compensation from Boeing next year regardless.
He can cancel 787 options but still keep that compensation.
Not too shabby an outcome. Of course, had the 787s turned up on time and the fuel savings etc flowed to the bottom line then the whole fleet strategy would have been vindicated.
Whoever set that 787 contract up was one smart cookie and pulled one over Boeing IMHO.
Doesn't mean the rest of the airline is being run well but somebody played an absolute blinder in procurement.
Join Date: Oct 2009
Location: Alabama, then Wyoming, then Idaho and now staying with Kharon on Styx houseboat
Age: 61
Posts: 1,437
Likes: 0
Received 0 Likes
on
0 Posts
Does the board have the power to sack him?
Unless all of mainstream media, as well as the public demand, in fact force an end to this saga the point of absolute no return will be reached, and even if QF survives it 's soul will be part of history like Ansett.
I wish the Government could just tear up his passport and send him back to potato land. He has already fouled part of Australia's history and this wrecking ball is on a mission.
Don't be fooled, they may be preaching doom and gloom and posting losses but one area of the Rat is highly lucrative - Management.
Last edited by gobbledock; 23rd Aug 2012 at 23:08.
Can/will EK invest more money in Qantas?
Why would they want to invest in a business they cannot control and see it pi$$ed up against a wall on LCCs that are no relevance to their business model whatsoever.
Join Date: Apr 2009
Location: London-Thailand-Australia
Age: 15
Posts: 1,057
Received 0 Likes
on
0 Posts
The aircraft is late.
He's getting about $100M in compensation from Boeing next year regardless.
He can cancel 787 options but still keep that compensation.
Not too shabby an outcome. Of course, had the 787s turned up on time and the fuel savings etc flowed to the bottom line then the whole fleet strategy would have been vindicated.
Whoever set that 787 contract up was one smart cookie and pulled one over Boeing IMHO.
Doesn't mean the rest of the airline is being run well but somebody played an absolute blinder in procurement.
He's getting about $100M in compensation from Boeing next year regardless.
He can cancel 787 options but still keep that compensation.
Not too shabby an outcome. Of course, had the 787s turned up on time and the fuel savings etc flowed to the bottom line then the whole fleet strategy would have been vindicated.
Whoever set that 787 contract up was one smart cookie and pulled one over Boeing IMHO.
Doesn't mean the rest of the airline is being run well but somebody played an absolute blinder in procurement.
AJ is very good at playing the compensation game, nothing he set up himself... taking advantage of the good work done in the past by people who now are working with JB over at Virgin...
..(RR A380 engine saga) pretty much a feature of his management style. The result, Q mainline is left with relics from the past when it comes to the "stock metal" soldering on in competition with more nimble, fuel efficient airframes in most of its competition fleets.
Certainly shines a light on the bad decisions made by the board in choosing the right people to run the overall Qantas package... but yesterday they got away with it for another year..... Even GT made a guest appearance on Lateline last night to rub salt into some old wounds...
August 23 2012 was the longest day of my life.... unbelievably depressing to watch what LC, AJ and the board got away with under the watchful eyes of our financial gurus in the media... brain dead....
Last edited by TIMA9X; 23rd Aug 2012 at 23:47.
Join Date: Dec 2011
Location: Brisbane
Posts: 207
Likes: 0
Received 0 Likes
on
0 Posts
How did QF made a billion dollar few years ago when fuel was at record high at around $140 a barrel ,dollar below .80c and jetstar was only flying a few aircraft,how,how,how
Join Date: Oct 2009
Location: Alabama, then Wyoming, then Idaho and now staying with Kharon on Styx houseboat
Age: 61
Posts: 1,437
Likes: 0
Received 0 Likes
on
0 Posts
How how how? Answer taken from Willyleaks
How did QF made a billion dollar few years ago when fuel was at record high at around $140 a barrel ,dollar below .80c and jetstar was only flying a few aircraft,how,how,how
One who performs such illusions is called a magician or an illusionist. Some performers may also be referred to by names reflecting the type of magical effects they present, such as prestidigitators, conjurors, mentalists, or escape artists.
Last edited by gobbledock; 23rd Aug 2012 at 23:54.
Guest
Posts: n/a
How,how,how?
EK's Tim Clark said this earlier in the year “When we enter into derivatives, betting whatever it may be with counterparties who actually control the price of fuel in the first place, you have to ask yourself, ‘Is that smart?’”