MERGED: Alan's still not happy......
Alan takes the hint and announces 'succession planning' process has begun. They can't both move on at once.
In all seriousness, I'm hearing potentially bad news for B744 (up to 6 airframes to be transferred to the VCV mega hub). This may be like announcements in the past where it is already what we know (9 airframes by 2016) re-dolled up to manipulate the share price.
To counter that, B789 intentions to purchase firmed up for delivery from FY16-17.
They would be mad to not take them at the price they have them locked in. Then again, madness seems to be a prerequisite for the job nowadays.
I'll happily give him a hug and slap him on the back if he'll f~€k off and take the rest of them with him. 
In all seriousness, I'm hearing potentially bad news for B744 (up to 6 airframes to be transferred to the VCV mega hub). This may be like announcements in the past where it is already what we know (9 airframes by 2016) re-dolled up to manipulate the share price.
To counter that, B789 intentions to purchase firmed up for delivery from FY16-17.
They would be mad to not take them at the price they have them locked in. Then again, madness seems to be a prerequisite for the job nowadays.
Prediction # 1 Leigh Clifford announces his retirement amongst group hugs & backslapping for a job well done.
From what I can figure out the 6 747 that haven't had the refit are due for D checks in the next 18 months . Cost approx $6 million each. So by getting rid of them cash flow is saved approx $36 million. By giving Joburg to Emirates and code sharing Dallas with American Airlines that is about 6 airframes. Hope I'm wrong. We will find out at the end of Feburary.
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short flights long nights
What about EK doing Dallas on some sort of wet lease? Just throwing things into the mix.
short flights long nights
The 200LR could do it no problems, and as EK already operate the 300ER to LAX SFO and Dallas from Dubai, I don't think it would have any trouble doing SYD Dallas either. ( I think)
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Making the board accountable
Busdriver07
"Well change the Board!"
>>>>>>>
Busdriver is on to something here. It's perhaps the only way to go on the offensive instead of waiting for the grand plan of Clifford/Joyce to play out.
Let's take the fight to save Qantas to them.
How to get rid of the board and stop Joyce getting a payout in 3 easy steps.
Step 1.
All that is needed are are a mere 100 shareholders.
Under the corporations act, these 100 shareholders can then request that the directors call and arrange to hold a general meeting.
The company must pay the expenses of calling and holding the meeting.
The Directors must call the meeting within 21 days after the request is given to the company and the meeting must be held within 2 months after the request is given.
Step 2.
The premise of the meeting would be called to vote on the remuneration package of both the board and very specifically the CEOs pay.
But more importantly at this juncture put a stop to any package he might be offered on the way out the door.
Step 3.
Another 100 different shareholders would call for another meeting subsequent to the first.
The law is very clear that if a board faces two consecutive meetings where over 25% of shareholders vote against the directors’ remuneration package, the directors have to stand for election again in 90 days.
A petition on Change.org or Getup would easily secure 100 shareholders. (Especially after Alan has pissed off so many people in so many ways).
This, more than any other action would put the board on notice that their individual positions, associated benefits and their reputations are all seriously at risk.
Who seriously, be they mum and dad investors, or even the long silent institutional funds are going to simply rubber stamp Clifford's 600k and Joyce retaining the title of the worlds highest paid airline CEO.
---
The law:
The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 introduced in the Corporations Act 2001 new sections 250R(2), 250U-V, so that if at two consecutive meetings over 25% of shareholders vote against the directors’ remuneration package, the directors have to stand for election again in 90 days.
---
There are two ways in which a member can requisition a meeting under the Corporations Act:
ū Under s. 249D, members with at least 5% of the votes that may be cast at the general meeting, or at
least 100 members who are entitled to vote at the general meeting, may request that the Directors of a company call and arrange to hold a general meeting. The company must pay the expenses of calling and holding the meeting. The Directors must call the meeting within 21 days after the request is given to the company and the meeting must be held within 2 months after the request is given.
ū Under s. 249F, members with at least 5% of the votes that may be cast at a general meeting of the company may call, and arrange to hold, a general meeting. The members calling the meeting must pay the expenses of calling and holding the meeting and the meeting must be called in the same way, so far as is possible, in which general meetings of the company may be called.
"Well change the Board!"
>>>>>>>
Busdriver is on to something here. It's perhaps the only way to go on the offensive instead of waiting for the grand plan of Clifford/Joyce to play out.
Let's take the fight to save Qantas to them.
How to get rid of the board and stop Joyce getting a payout in 3 easy steps.
Step 1.
All that is needed are are a mere 100 shareholders.
Under the corporations act, these 100 shareholders can then request that the directors call and arrange to hold a general meeting.
The company must pay the expenses of calling and holding the meeting.
The Directors must call the meeting within 21 days after the request is given to the company and the meeting must be held within 2 months after the request is given.
Step 2.
The premise of the meeting would be called to vote on the remuneration package of both the board and very specifically the CEOs pay.
But more importantly at this juncture put a stop to any package he might be offered on the way out the door.
Step 3.
Another 100 different shareholders would call for another meeting subsequent to the first.
The law is very clear that if a board faces two consecutive meetings where over 25% of shareholders vote against the directors’ remuneration package, the directors have to stand for election again in 90 days.
A petition on Change.org or Getup would easily secure 100 shareholders. (Especially after Alan has pissed off so many people in so many ways).
This, more than any other action would put the board on notice that their individual positions, associated benefits and their reputations are all seriously at risk.
Who seriously, be they mum and dad investors, or even the long silent institutional funds are going to simply rubber stamp Clifford's 600k and Joyce retaining the title of the worlds highest paid airline CEO.
---
The law:
The Corporations Amendment (Improving Accountability on Director and Executive Remuneration) Act 2011 introduced in the Corporations Act 2001 new sections 250R(2), 250U-V, so that if at two consecutive meetings over 25% of shareholders vote against the directors’ remuneration package, the directors have to stand for election again in 90 days.
---
There are two ways in which a member can requisition a meeting under the Corporations Act:
ū Under s. 249D, members with at least 5% of the votes that may be cast at the general meeting, or at
least 100 members who are entitled to vote at the general meeting, may request that the Directors of a company call and arrange to hold a general meeting. The company must pay the expenses of calling and holding the meeting. The Directors must call the meeting within 21 days after the request is given to the company and the meeting must be held within 2 months after the request is given.
ū Under s. 249F, members with at least 5% of the votes that may be cast at a general meeting of the company may call, and arrange to hold, a general meeting. The members calling the meeting must pay the expenses of calling and holding the meeting and the meeting must be called in the same way, so far as is possible, in which general meetings of the company may be called.
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What about EK doing Dallas on some sort of wet lease? Just throwing things into the mix.
You seem awfully keen to push the EK flag and an over zealous interest in Qantas' shortcomings for someone who appears not directly effected by the Sh#t thats going on here.
I'm starting to get the impression you are very keen for something to give and I'm guessing it's so maybe an opportunity for yourself may open up to get back home to OZ at the expense of the QF guys?
Something about carcass's and sharks circling comes to mind.
short flights long nights
SUB...far from it my friend, I don't wish to see Qanatas fail at all. I was looking at the current QF/EK partnership and I was just posing a question, that was all.
SOPS, The bilaterals across the Pacific are tightly held and for EK to operate this sector would mean it would be a sixth freedom right which would need US, AUS and UAE approval. Unfortunately Australia would agree to anything, UAE would want this but the US are dead against any more UAE expansion into the US and we are starting to see the same from Germany and Canada. Another way of stopping this is to lobby Australia to do the same and halt this dumping of capacity of a airline representing seven million people growing way out of proportion and doing what it is doing to Australia.
As far as a EGM happy to start the ball rolling and it would not take long for this to get up but we need the institutions to finally say they have had enough. Shareholder activism needs to get going in this country. Many Mums and Dads have a lot of money tied up in superannuation and should start to care where it is being invested.
As far as a EGM happy to start the ball rolling and it would not take long for this to get up but we need the institutions to finally say they have had enough. Shareholder activism needs to get going in this country. Many Mums and Dads have a lot of money tied up in superannuation and should start to care where it is being invested.
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Virgin Australia offers board seats to partners
Jamie Freed
Published: January 20, 2014 - 3:00AM
Etihad Airways chief executive James Hogan will personally take up the board seat on offer from Virgin Australia to his airline in a move that could increase the likelihood the heads of Air New Zealand and Singapore Airlines will follow suit.
Virgin extended board seats to the three airlines, which control a combined 67 per cent of the Australian carrier, after they backed a $350 million capital raising that has upset rival Qantas.
But Virgin has not yet said whether the board seats would be taken up by the CEOs of its airline partners, other top executives or independent nominees.
Mr Hogan said he would join the Virgin board once chairman Neil Chatfield had finished putting in place proper rules of engagement and protocols for the airline shareholder representatives.
''I will sit on the board,'' Mr Hogan said. ''I am an Australian. I know the market. I've been in aviation since 1975. Maybe I can add some value.''
Air NZ CEO Christopher Luxon this month said he had yet to decide whether he would take the Virgin seat or appoint another representative. Singapore Airlines has not commented publicly on its plans.
The impending entry of the airline representatives to the Virgin board comes as Virgin continues to put pressure on Qantas in the domestic market since its recent capital raising.
Qantas chief executive Alan Joyce was believed to be in Dubai last week for a meeting with Tim Clark, the head of his key alliance partner, Emirates.
Mr Hogan declined to comment on the situation at Qantas, which has a 49 per cent cap on foreign investment and has asked the Australian government for assistance in levelling the playing field with foreign-controlled Virgin.
Qantas had once considered an alliance with Etihad, but instead made a deal with Emirates, which did not lead to any equity investment in the Australian carrier.
Mr Joyce's visit to Dubai came as Virgin partners Air NZ and Singapore Airlines on Thursday agreed to form an alliance to fly between New Zealand and Singapore. Those airlines are regarded by analysts as likely potential partners for a future privatisation of Virgin, a move that could risk marginalising Etihad.
Mr Hogan said Etihad had a good relationship with Air NZ, which would not be affected by the new Singapore Airlines deal.
''We have had a codeshare for some time,'' he said. ''That is protected, grandfathered. Etihad won't fly to New Zealand.''
Mr Hogan said he had ''no problem'' with Air NZ's alliance with Singapore Airlines if the Kiwi carrier felt that was the right move for that market.
''Does it impact our relationship with Air NZ?'' he said. ''Not at all. Does it impact our relationship with Virgin Australia? Not at all. We have a 10-year commercial agreement. We also have in cargo a very strong partnership with Singapore Airlines.''
Jamie Freed
Published: January 20, 2014 - 3:00AM
Etihad Airways chief executive James Hogan will personally take up the board seat on offer from Virgin Australia to his airline in a move that could increase the likelihood the heads of Air New Zealand and Singapore Airlines will follow suit.
Virgin extended board seats to the three airlines, which control a combined 67 per cent of the Australian carrier, after they backed a $350 million capital raising that has upset rival Qantas.
But Virgin has not yet said whether the board seats would be taken up by the CEOs of its airline partners, other top executives or independent nominees.
Mr Hogan said he would join the Virgin board once chairman Neil Chatfield had finished putting in place proper rules of engagement and protocols for the airline shareholder representatives.
''I will sit on the board,'' Mr Hogan said. ''I am an Australian. I know the market. I've been in aviation since 1975. Maybe I can add some value.''
Air NZ CEO Christopher Luxon this month said he had yet to decide whether he would take the Virgin seat or appoint another representative. Singapore Airlines has not commented publicly on its plans.
The impending entry of the airline representatives to the Virgin board comes as Virgin continues to put pressure on Qantas in the domestic market since its recent capital raising.
Qantas chief executive Alan Joyce was believed to be in Dubai last week for a meeting with Tim Clark, the head of his key alliance partner, Emirates.
Mr Hogan declined to comment on the situation at Qantas, which has a 49 per cent cap on foreign investment and has asked the Australian government for assistance in levelling the playing field with foreign-controlled Virgin.
Qantas had once considered an alliance with Etihad, but instead made a deal with Emirates, which did not lead to any equity investment in the Australian carrier.
Mr Joyce's visit to Dubai came as Virgin partners Air NZ and Singapore Airlines on Thursday agreed to form an alliance to fly between New Zealand and Singapore. Those airlines are regarded by analysts as likely potential partners for a future privatisation of Virgin, a move that could risk marginalising Etihad.
Mr Hogan said Etihad had a good relationship with Air NZ, which would not be affected by the new Singapore Airlines deal.
''We have had a codeshare for some time,'' he said. ''That is protected, grandfathered. Etihad won't fly to New Zealand.''
Mr Hogan said he had ''no problem'' with Air NZ's alliance with Singapore Airlines if the Kiwi carrier felt that was the right move for that market.
''Does it impact our relationship with Air NZ?'' he said. ''Not at all. Does it impact our relationship with Virgin Australia? Not at all. We have a 10-year commercial agreement. We also have in cargo a very strong partnership with Singapore Airlines.''
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After intense negotiations & a world wide talent search. Alan & Leigh will announce Sideshow Bob will join the Qantas board (Krusty the clown was unavailable at this time)
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.........followed by the announcement of a new advertising theme of " Roll up, roll and try your luck. Pick a lucky ticket and get to your destination on time and no hassles." Theme music provided by The Silvers Circus Show Band".
''I am an Australian. I know the market. I've been in aviation since 1975. Maybe I can add some value.''
The Qantas board member would have said " I have been around Australian business since 1975. I know ASIC is a joke and I know that mutual fund managers like first class travel and a Chairman's lounge experience. And valet parking!
Maybe I can add some value to my own pocket!"
Maybe I can add some value to my own pocket!"