The Great Turnaround
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The Great Turnaround
Another Qantas PR scoop from Ticky Fullerton in today’s Australian.
Hark! Everyone. Alan Joyce at Qantas has driven the turnaround of the decade.
He had to ground an airline globally to do it, for which he could have been fired.
Instead backed by his board, his strategy reset the airline on a path to profit and he led the legalisation of same-sex marriage, so important for many of his employees:a true captain of industry.
Gee, I miss The Truth newspaper!
Wonder were Ticky sits when she travels on Qantas?
Hark! Everyone. Alan Joyce at Qantas has driven the turnaround of the decade.
He had to ground an airline globally to do it, for which he could have been fired.
Instead backed by his board, his strategy reset the airline on a path to profit and he led the legalisation of same-sex marriage, so important for many of his employees:a true captain of industry.
Gee, I miss The Truth newspaper!
Wonder were Ticky sits when she travels on Qantas?
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Ticky is marrying the Australian Financial Review's Editor in Chief:
Michael Stutchbury and Ticky Fullerton to wed
Originally Posted by Dec 4 2017
In breaking news, this newspaper's[AFR] editor in chief Michael Stutchbury has recently been down on bended knee. Stutch will marry Sky News broadcaster Ticky Fullerton in her home county of Oxfordshire come July, six years after the two were set up by our former colleague Pamela Williams.
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'Transformation' equaled
Fuel down AUD$597 million
Depreciation down AUD$326 million
Deep diving investigative journalists are a thing of the past, Chairman's lounge and upgrades are nothing more than 'comfort for comment' As Leigh says, who is in the club is secret, most bribes are in paper bags..
As for the Australian its subscription base equals its quality: You can't give them away in boarding lounges these days
Fuel down AUD$597 million
Depreciation down AUD$326 million
Deep diving investigative journalists are a thing of the past, Chairman's lounge and upgrades are nothing more than 'comfort for comment' As Leigh says, who is in the club is secret, most bribes are in paper bags..
As for the Australian its subscription base equals its quality: You can't give them away in boarding lounges these days
How can depreciation be down? Don't they mean it's just being amortized over a longer period? Or have they fully depreciated what should be an aging fleet or have they disposed of a about a billion bucks worth of assets? Accountants....
Just spending the inheritance kids. The only difference is, in the financial world, they call it a turnaround.
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How can depreciation be down? Don't they mean it's just being amortized over a longer period? Or have they fully depreciated what should be an aging fleet or have they disposed of a about a billion bucks worth of assets? Accountants....
Qantas are the same 10-20 years between the various aircraft.
Amazingly a write down is subject to management timing and discretion: A little nudge to auditors and 'oh the book value is too high compared to the second hard market' and the write down gets done...
Ever wonder why Mr. Joyce predicted exactly when Qantas mainline was to be profitable again? Not only did his bonus depend on it, the timing was his to start with...
Different airlines use different schedules, mostly straight line with varied terms. Cathay Pacific use 20 years from memory and 25 for freighters, Singapore 15 years, both to 10% residual value.
Qantas are the same 10-20 years between the various aircraft.
Amazingly a write down is subject to management timing and discretion: A little nudge to auditors and 'oh the book value is too high compared to the second hard market' and the write down gets done...
Ever wonder why Mr. Joyce predicted exactly when Qantas mainline was to be profitable again? Not only did his bonus depend on it, the timing was his to start with...
Qantas are the same 10-20 years between the various aircraft.
Amazingly a write down is subject to management timing and discretion: A little nudge to auditors and 'oh the book value is too high compared to the second hard market' and the write down gets done...
Ever wonder why Mr. Joyce predicted exactly when Qantas mainline was to be profitable again? Not only did his bonus depend on it, the timing was his to start with...
paid or bonuses upon...the creation of share holder value and you don't see them complaining since the shares were at rock bottom do you?
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the creation of share holder value and you don't see them complaining since the shares were at rock bottom do you?
'Rock bottom' may in fact relate to an industrial campaign, grounding lockout and 'transformation' i didn't ever say they weren't audacious, but revenue has declined in real terms and even after 10 years Qantas still lags its peers in most metrics of financial performance; with the exception of executive remuneration.
I would beg to differ on whether a changed book value is equivalent to shareholder value creation.
'Rock bottom' may in fact relate to an industrial campaign, grounding lockout and 'transformation' i didn't ever say they weren't audacious, but revenue has declined in real terms and even after 10 years Qantas still lags its peers in most metrics of financial performance; with the exception of executive remuneration.
'Rock bottom' may in fact relate to an industrial campaign, grounding lockout and 'transformation' i didn't ever say they weren't audacious, but revenue has declined in real terms and even after 10 years Qantas still lags its peers in most metrics of financial performance; with the exception of executive remuneration.
Without being a protagonist, would QF have survived in its current form without the CEO?
Aviation and publicly listed companies can't please everyone, but without shareholders and investors, what would be left?
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In fact, that could be said for the previous CEO as well.
Corporate parasites the lot of them.
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Without being a protagonist, would QF have survived in its current form without the CEO?
In real terms since the little fella got to play in the sand box, Qantas revenue have declined in real terms.The group revenue in FY10 was $13.7 billion, in FY17 was $16.1 billion. Adjusted for inflation this a real decline. Other peer airlines over the corresponding period have not exhibited the same 'amazing' performance.
- Turnaround achieved with same fleet, same contracts.
- JQ fleet grew from 36 aircraft to around 120 now
- Substantial decline in Qantas tailed flying, net reduction in hulls.
- One 787
Qantas has survived despite its CEO not because of it.
There are exceptions to this model, I chuckle when Qantas conveniently ignores an airline of far better performance just a few hours away in New Zealand.Led by capable people and also a cornerstone of its management under Rob Fyfe was a genuine affinity for staff, such that he personally would spend a day a month out there, working in various areas.
My suspicion is Mr Joyce would likely go no where without his security detail, whisked into an underground car park and home to his security laden building. Sad really.
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Massive Accounting write down of fleet.
Close to zero new aircraft introduced or actually flown in the Qantas fleet.
Massive drop in global fuel prices giving advantage to the airlines that had older fleets and spent less CAPEX(No new planes purchased or operating).
What a stunning transformation.
Steve Bradbury won gold. Doesn't make him a fine ice Skater.
Close to zero new aircraft introduced or actually flown in the Qantas fleet.
Massive drop in global fuel prices giving advantage to the airlines that had older fleets and spent less CAPEX(No new planes purchased or operating).
What a stunning transformation.
Steve Bradbury won gold. Doesn't make him a fine ice Skater.
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What a stunning transformation.
I suspect that most journalists are upgraded with their family and in some instances, perhaps like Ms Fullerton invited into the Chairman's lounge with an opacity that even hard core criminals would applaud, so that they quietly sings the praises of an audacious IR campaign with many losers, but ultimately very few winners.
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You will need to get a new chairman if you want a new leader without Alan’s blood. The next chief will be orchestrated by the man himself and Alan will no doubt stay on board as a ‘advisor’ to make sure the ship sails how he wants it to when he leaves it.
One of the worst leaders a business could have. Not one to look up to by the employees which is paramount.
One of the worst leaders a business could have. Not one to look up to by the employees which is paramount.
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You will need to get a new chairman
The picture painted had me thinking of this guy...
Steve Bradbury
Kiwiconehead is correct. Steve Bradbury had several bad accidents and took 12 years of training and Competitions before he won that race, it wasn't all a walk in the Park to get in the finals in the first place.
Sure the rest fell but that was his good luck to be upright and manage to win the race.
Sure the rest fell but that was his good luck to be upright and manage to win the race.