MERGED: Alan's still not happy......
Join Date: Jul 2008
Location: south pacific vagrant
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That is a good point. NZ has a tiny population also making money more of a challenge. Yet they manage.
I have always had my money on the almost complete shutdown of 'QANTAS' as it stands with it to be reborn with the same livery, uniform etc...... One important difference though will be the fact that all will be crewed by one big workforce on Jetstar/Jetconnect (or less) terms and conditions. So as a Pilot you will turn up one day and fly a 787 in Jetstar colours and the next trip could be a Qantas branded 787. Whilst this massive restructure and change goes on he has conveniently set-up a code share with Emirates to take the slack during the 'down time.
The public won't give a toss if this happens, the big AL will strut around raving about how he saved the Qantas brand
The public won't give a toss if this happens, the big AL will strut around raving about how he saved the Qantas brand
Join Date: May 2011
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of course, how else can QF survive ?
of course QF will become all JQ & all JQ INT crews will be foreigners.
+ people have got to stop expecting to be able to call Qantas & expect someone to answer, esp in OZ.
Even FJ outsouce their call centre to a 3rd party called Mindpearl in SUV.
+ people have got to stop expecting to be able to call Qantas & expect someone to answer, esp in OZ.
Even FJ outsouce their call centre to a 3rd party called Mindpearl in SUV.
Join Date: May 2011
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Withdrawal from unprofitable international routes including Bangkok and Hong Kong-London,
Singapore-Frankfurt, Auckland-Los Angeles, Singapore-Mumbai, Perth-Hong Kong and Adelaide-
Singapore
Travelled to Bangkok just a few weeks ago Qantas A330.
Was completely full !! Next booking I make will have one less option.
Join Date: Nov 2011
Location: Inside their OODA loop
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S&P have downgraded QAN to junk status credit rating.
If JB is smart he will get another 10 330 immediately from Singapore or Ethiad and put them against Qantas / Jetstar most profitable routes (which he would intimately know) and also on the asia routes which Qantas has left abandoned.
No time. For a xmas break now JB.
On the other side.... What a sad way for qantas to go. I feel for all the staff who have to go to work every day with this around their neck.
No time. For a xmas break now JB.
On the other side.... What a sad way for qantas to go. I feel for all the staff who have to go to work every day with this around their neck.
Join Date: Aug 2005
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I find it quite surreal. 12 years ago QF went cap in hand to the Government to stop it from bailing AN out after successfully lobbying to prevent SQ buying into AN and effectively re capitalising it. Now it is going cap in hand to the government to help bail itself out. How the wheel turns. Interesting times ahead for QF and it's staff on the aviation industry roller coaster. As usual, it will be the small and vital cogs in the big machine that will pay the price for the big cog's failings.
Good luck to all the QF staff who have remained loyal under trying circumstances.
I'm glad I'm out of it.
Good luck to all the QF staff who have remained loyal under trying circumstances.
I'm glad I'm out of it.
Tankengine.
Morningstar advise QF has $6B + of debt.
The Balance Sheet shows:
Total Current Assets of $5.245B
Total Current Liabilities of $6.370B
Not a pretty picture and the outcome will see the loss of many more jobs and a reduction in the fleet after a hefty increase in airfares.
Morningstar advise QF has $6B + of debt.
The Balance Sheet shows:
Total Current Assets of $5.245B
Total Current Liabilities of $6.370B
Not a pretty picture and the outcome will see the loss of many more jobs and a reduction in the fleet after a hefty increase in airfares.
Moderator
Qantas share price:
Yesterday:
Yesterday:
"Qantas Airways Limited (ASX:QAN) shares have crashed in early trade, approaching an all time low on the back of an alarming profit update.
Alongside tipping a half year loss of between $250 and $200 million, the carrier also flagged 1000 job losses and executive pay cuts, after spending the past fortnight imploring the federal government for assistance. CEO Alan Joyce says the challenges the airline now faces are immense. Shares in Qantas are trading down 15.98 per cent at $1.01."
Alongside tipping a half year loss of between $250 and $200 million, the carrier also flagged 1000 job losses and executive pay cuts, after spending the past fortnight imploring the federal government for assistance. CEO Alan Joyce says the challenges the airline now faces are immense. Shares in Qantas are trading down 15.98 per cent at $1.01."
Join Date: Aug 2011
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This is like watching a time lapse train wreck where everyone knows what is happening and no one does anything as it unfolds.
Even worse when the architects are from within and the staff are slow baked with little ability to influence what is happening.
Even worse when the architects are from within and the staff are slow baked with little ability to influence what is happening.
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BNEA320
The rot for QF Domestic started when VA started on lower wages and costs, then JQ picked up Impulses's lower cost base, then TT started with an even lower cost base.
The rot for QF Domestic started when VA started on lower wages and costs, then JQ picked up Impulses's lower cost base, then TT started with an even lower cost base.
This was imported from overseas particularly Braniff/Continental (read Lorenzo classmate bar one year of Turbo Tie Strong) with the disease spreading throughout the USA, Europe, etc.
Qantas current woes lay entirely at the feet of Qantas management past and present!
Tailwheel.
Thanks for the chart as it is a good example of support and resistance at a level of $1.40. Any share holders at the beginning of the third week of October should have sold or gone short when the share price dropped through $1.40.
You may have seen my posts in 2012 suggesting QF will bottom out at 89c.
Thanks for the chart as it is a good example of support and resistance at a level of $1.40. Any share holders at the beginning of the third week of October should have sold or gone short when the share price dropped through $1.40.
You may have seen my posts in 2012 suggesting QF will bottom out at 89c.
Just over a year ago Jetstar and FF were mentioned.
Consortium in bid to stake Qantas claim
QANTAS management has hunkered down amid a renewed attempt by some of Australia's best-connected businessmen to secure a cornerstone stake and overhaul the airline.
A consortium including financier Mark Carnegie, Leighton finance boss Peter Gregg, adman John Singleton and former Qantas CEO Geoff Dixon has been seeking support for a partial float of Jetstar and Qantas' frequent-flyer loyalty scheme.
Under their plans, the consortium would take a cornerstone stake of about 20 per cent in Qantas, seek three board seats and agitate for management change. Mr Gregg, the Leighton chief financial officer, is regarded as the man most likely to assume the reins as CEO should the consortium be successful.
A consortium including financier Mark Carnegie, Leighton finance boss Peter Gregg, adman John Singleton and former Qantas CEO Geoff Dixon has been seeking support for a partial float of Jetstar and Qantas' frequent-flyer loyalty scheme.
Under their plans, the consortium would take a cornerstone stake of about 20 per cent in Qantas, seek three board seats and agitate for management change. Mr Gregg, the Leighton chief financial officer, is regarded as the man most likely to assume the reins as CEO should the consortium be successful.
Consortium in bid to stake Qantas claim
When that $500k figure was released the comment on everybody's lips was 'surely not'. Apparently it is (or was at some stage) true, but I can promise you its not many, and I would suspect less than 5. Chief Pilot probably (one for each airline of course - keep the Kool Aid coming from someone who used to be trustworthy) and a couple more. It would not be many. Especially with our ever expanding network
In any case, there isn't a disparity of wages around the industry - and remember the $AUD is still high. Lunatic argument when $AUD is at .60 for example. Having been to a Sandpit jobs day, and speaking with friends who have gone I can say that most crew at Qf would be slightly better off if they worked at Emirates/Etihad etc. The big proviso is not living in Oz - and that is up to the individual. Staff travel, school allowances, rent allowances etc etc all make a big difference.
Comparing airline wages is difficult, very difficult. There are arguments on both sides of the fence that can make the opposite look crazy. For every $500kpa pilot in the Qf group, I can assure you there would be at least 2-3 $80-100kpa pilot. The only way to work it out is to know first hand after 6-12 months of line flying exactly what the relative positions are. Sensible discussion would leave the subject alone - too hard to work out IMHO.
In any case, there isn't a disparity of wages around the industry - and remember the $AUD is still high. Lunatic argument when $AUD is at .60 for example. Having been to a Sandpit jobs day, and speaking with friends who have gone I can say that most crew at Qf would be slightly better off if they worked at Emirates/Etihad etc. The big proviso is not living in Oz - and that is up to the individual. Staff travel, school allowances, rent allowances etc etc all make a big difference.
Comparing airline wages is difficult, very difficult. There are arguments on both sides of the fence that can make the opposite look crazy. For every $500kpa pilot in the Qf group, I can assure you there would be at least 2-3 $80-100kpa pilot. The only way to work it out is to know first hand after 6-12 months of line flying exactly what the relative positions are. Sensible discussion would leave the subject alone - too hard to work out IMHO.
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Whilst I admire the passion people here in this forum have for Qantas, the reality is the view in here does not reflect the view of the average punter in the community.
Globalization and the internet has changed the way our economies work. People now expect more for their dollar than ever before, and have more resources at their disposal than ever to be able to get the best deal for themselves. QF's slide into the predicament they are now in is not just as a result of management policy post-float (though no doubt it is a contributing factor). 30 years ago nearly one-in-two Australians flew QF international in terms of market share. Now that figure is less than one-in-five. QF's biggest problem is that people still love the brand - but are no longer prepared to pay the premium on the fares they once were.
The international carrier landscape ex-Oz is more diverse than ever. Fare structures are more competitive than ever. And whether we like it or not, we have to compare apples with oranges when it comes to competition - eg: Lower foreign labour costs, foreign govt. backed/owned airlines, etc. And the rise in the $USD has seen inbound tourism slump, which obviously knocks on to the QF domestic product, the cash cow of the group.
As someone who has worked in the industry for over 2 decades for several airlines, there are 2 obvious changes that must occur for the Qantas brand to have a chance of survival (and i say only a chance).
1. The Oz Fed govt MUST repeal the Qantas Sales Act to allow the company to access the availability of foreign capital. The Act was introduced in the dying days of 'Protectionist Australia' to ensure that the float was politically palatable. It is an antiquated piece of legislation that is now a noose around QF's neck.
2. The QF board/management must accept that they can have EITHER QF international OR Jetstar. It can't have both. It's obvious that these 2 products have been cannibalizing each other for far too long, and management have been fighting on far too many fronts for far too long trying to defend both these products, and using up far too much financial and employee capital in the process.
A combination of legislative repeal and an institutional share holder revolt to throw out the current board for its current strategy is most likely the only hope QF has.
I wish all at QF well. But if the status quo remains, I don't like your prospects
Globalization and the internet has changed the way our economies work. People now expect more for their dollar than ever before, and have more resources at their disposal than ever to be able to get the best deal for themselves. QF's slide into the predicament they are now in is not just as a result of management policy post-float (though no doubt it is a contributing factor). 30 years ago nearly one-in-two Australians flew QF international in terms of market share. Now that figure is less than one-in-five. QF's biggest problem is that people still love the brand - but are no longer prepared to pay the premium on the fares they once were.
The international carrier landscape ex-Oz is more diverse than ever. Fare structures are more competitive than ever. And whether we like it or not, we have to compare apples with oranges when it comes to competition - eg: Lower foreign labour costs, foreign govt. backed/owned airlines, etc. And the rise in the $USD has seen inbound tourism slump, which obviously knocks on to the QF domestic product, the cash cow of the group.
As someone who has worked in the industry for over 2 decades for several airlines, there are 2 obvious changes that must occur for the Qantas brand to have a chance of survival (and i say only a chance).
1. The Oz Fed govt MUST repeal the Qantas Sales Act to allow the company to access the availability of foreign capital. The Act was introduced in the dying days of 'Protectionist Australia' to ensure that the float was politically palatable. It is an antiquated piece of legislation that is now a noose around QF's neck.
2. The QF board/management must accept that they can have EITHER QF international OR Jetstar. It can't have both. It's obvious that these 2 products have been cannibalizing each other for far too long, and management have been fighting on far too many fronts for far too long trying to defend both these products, and using up far too much financial and employee capital in the process.
A combination of legislative repeal and an institutional share holder revolt to throw out the current board for its current strategy is most likely the only hope QF has.
I wish all at QF well. But if the status quo remains, I don't like your prospects