Geez Qantas that was quick!
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Would Virgin pilots still feel the same if Skywest subsequently got 57 more A320/1s and 11 B787s?
I’m curious, for all those QF pilots who thought that Jetstar was stopping their progression, did you not all have an opportunity under the MOU to go across and further your careers as Captains with JQ? And if you did, why didn’t you?
Why would you leave Q to work twice as hard for half as much, only to come back to Q after 3 years at your previous rank?
Crapstar DID stop Q pilots progressing in the company they joined. Fact
There is around (maybe more accurately, at least) $2b of wasted capital in JQ entities. That’s the issue long term QF staff have with JQ. It is inconceivable to anyone but a crackhead that was spent in the best interests of the Company that paid (and is still paying) the bills. In my book, that could only be described as a cataclysmic financial disaster.
And I have nothing against JQ staff.
And I have nothing against JQ staff.
Thanks for the info. I didn’t know everyone wasn’t covered by the MOU.
I don’t disagree that the creation of JQ certainly did effect the direction of QF at some point, but there’s a few things I think no one can disagree with:
1. There was a gap in the market that needed filling that QF was unable to do. Jetstar was a necessary evil, whether you like it or not. For it to do well, with its low yield, it needs new and efficient aircraft.
2. Jetstar is here now, it’s performing pretty well in its market segment and the growth period is over. From the outside looking in, it appears the focus is now on QF.
So for friggs sake, could we all move on and get on like good little boys and girls? You’re an entire group, why not all hope for the best outcome for the entire group, instead of hatred towards Jetstar.
I don’t disagree that the creation of JQ certainly did effect the direction of QF at some point, but there’s a few things I think no one can disagree with:
1. There was a gap in the market that needed filling that QF was unable to do. Jetstar was a necessary evil, whether you like it or not. For it to do well, with its low yield, it needs new and efficient aircraft.
2. Jetstar is here now, it’s performing pretty well in its market segment and the growth period is over. From the outside looking in, it appears the focus is now on QF.
So for friggs sake, could we all move on and get on like good little boys and girls? You’re an entire group, why not all hope for the best outcome for the entire group, instead of hatred towards Jetstar.
There’s no hatred of Jetstar but setting it up was pointless and expensive. You do NOT need to set up an entire company just to sell discount tickets! There was never anything stopping Qf selling a ‘service free’ economy ticket either on seperate aircraft within its own fleet or a seperate section on any jet.
The only reason to set up a seperate airline at monumental expense that makes any sense to me is if they intended to spin off an entity that was stuffed full of Qf cash for their own personal gain. No one has been able to prove to me that the entirety of the Jq operation has netted dollar one, and even if it has (happy to concede I may be wrong) then I would still suggest the purpose of business is to charge as much as you can for something, not deliberately increase your cost base to undercut yourself. In short, spending Qf money on Qf would have garnered a far better monetary reward.
Believe me please, I have nothing against JQ in any way. They (Qf management) have wasted just as much on share buybacks to ensure their own bonuses after all. I do, however, have a seething hatred of the incompetents wrecking Qf, a very rare and successful premium Australian brand.
The only reason to set up a seperate airline at monumental expense that makes any sense to me is if they intended to spin off an entity that was stuffed full of Qf cash for their own personal gain. No one has been able to prove to me that the entirety of the Jq operation has netted dollar one, and even if it has (happy to concede I may be wrong) then I would still suggest the purpose of business is to charge as much as you can for something, not deliberately increase your cost base to undercut yourself. In short, spending Qf money on Qf would have garnered a far better monetary reward.
Believe me please, I have nothing against JQ in any way. They (Qf management) have wasted just as much on share buybacks to ensure their own bonuses after all. I do, however, have a seething hatred of the incompetents wrecking Qf, a very rare and successful premium Australian brand.
There’s no hatred of Jetstar but setting it up was pointless and expensive. You do NOT need to set up an entire company just to sell discount tickets! There was never anything stopping Qf selling a ‘service free’ economy ticket either on seperate aircraft within its own fleet or a seperate section on any jet.
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I wonder if QF management have a site where they bitch about what crap pilots QF drivers are......
seriously guys, to still be asserting that JQ is some sort of financial alchemy is akin to belonging to the flat earth society.
for your own health, suck it up and move on.
seriously guys, to still be asserting that JQ is some sort of financial alchemy is akin to belonging to the flat earth society.
for your own health, suck it up and move on.
It’s not a question of moving on. Nor is it flat earth. It’s a forensic accounting question basically. The money has gone and Qf needs a new fleet 15 years ago. JQ has a FAR newer and more appropriate fleet. There is no malice in this question at all, but is there any evidence that JQ has made money?
Comments like ‘performing strongly’ and ‘business case’ in my mind hide a litany of lies. Surely someone can point to hard figures somewhere?
Comments like ‘performing strongly’ and ‘business case’ in my mind hide a litany of lies. Surely someone can point to hard figures somewhere?
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“2. Jetstar is here now, it’s performing pretty well in its market segment and the growth period is over. From the outside looking in, it appears the focus is now on QF.”
The 18 A321LRs confirmed for JQ from 2020 may suggest that the pendulum of capital expenditure is swinging back to Jetstar.
The A321LR order and further 787 orders were competing business cases which it appears JQ has emerged victorious from. An idea which was confirmed by Joyce in his comments at the Singapore Airshow last month.
That’s not to say QF won’t get more 787s, but that program has certainly been delayed. By how long is the million dollar question.
The 18 A321LRs confirmed for JQ from 2020 may suggest that the pendulum of capital expenditure is swinging back to Jetstar.
The A321LR order and further 787 orders were competing business cases which it appears JQ has emerged victorious from. An idea which was confirmed by Joyce in his comments at the Singapore Airshow last month.
That’s not to say QF won’t get more 787s, but that program has certainly been delayed. By how long is the million dollar question.
Million dollar question? Only a million?
Alan doesn’t have the luxury of time, he’s farked the airline so comprehensively he needs to get on it like.....5 years ago! He’s padding the books in preparation for his departure I’m sure.
Alan doesn’t have the luxury of time, he’s farked the airline so comprehensively he needs to get on it like.....5 years ago! He’s padding the books in preparation for his departure I’m sure.
My guess is that Qf has no money for 787's (the completely different 'Gamechanging' ones to JQ's of course). That makes it A320's OR 787's. And even Alan can't seem to screw up the domestic quasi monopoly - despite his best efforts. Qf debt is 70-75% ADDITIONALLY, I understand they are buying JQ leases to get them on the books by the deadline so I think they are looking for scapegoats to avoid the difficult questions. IE: $2b on JQ and +/-$2b on share buybacks, but no money for desperately needed aircraft for the company that pays the bills. Nor any concern for it's longevity.
To explain the DE ratio to those that don't know, look at it like this. When you buy a house, generally considered 'safe as houses' you HAVE to have at least a 20% deposit. Businesses are FAR more risky than residential houses so have to have a lot more equity than a simple house. At 70-75% Debt to Equity, Qantas is starting to push limits. If Qantas had 50 Gamechangers or 50 777's (or both!) then I'd say that possibly makes sense. But it doesn't and that's where I see MAJOR issues. Alan might be able to keep the music playing, but it is looking like a house of cards to me.
For the people who think this is simply an anti JQ rant/attack, please provide some information to the contrary. Look at it this way, I don't mind making a fool of myself on here, but I do speak to people about what I see as a rolling disaster and when I do, I do NOT want to be easily written off.
Comments like 'business case' don't count because if there is no money there clearly is no business case. Too broad an approach.
Comments like 'performing strongly' don't count because that is likewise meaningless for (almost) the same 'Eddie the Eagle' reason.
To explain the DE ratio to those that don't know, look at it like this. When you buy a house, generally considered 'safe as houses' you HAVE to have at least a 20% deposit. Businesses are FAR more risky than residential houses so have to have a lot more equity than a simple house. At 70-75% Debt to Equity, Qantas is starting to push limits. If Qantas had 50 Gamechangers or 50 777's (or both!) then I'd say that possibly makes sense. But it doesn't and that's where I see MAJOR issues. Alan might be able to keep the music playing, but it is looking like a house of cards to me.
For the people who think this is simply an anti JQ rant/attack, please provide some information to the contrary. Look at it this way, I don't mind making a fool of myself on here, but I do speak to people about what I see as a rolling disaster and when I do, I do NOT want to be easily written off.
Comments like 'business case' don't count because if there is no money there clearly is no business case. Too broad an approach.
Comments like 'performing strongly' don't count because that is likewise meaningless for (almost) the same 'Eddie the Eagle' reason.
Last edited by V-Jet; 27th Feb 2018 at 22:24.
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I’m confident you’ll be seeing more 787’s between now and when the JQ aircraft are slated to arrive. There’s nothing new here, JQ we’re always getting these aircraft. I’m not defending the idiots at fort fumble, but they are right in that there is no need to firm up options before they expire. The lies about pilots calling a meeting being the reason are just that, lies. The issue is, we can’t crew the aircraft we have now. We won’t be able to crew the 8 787’s when they turn up, there’s no point getting more right now unless you want to park them against the fence.
1.936 Billion revenue, 318 Million EBIT.
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ABN 16 009 661 901 HALF-YEAR ENDED 31 DECEMBER 2017
Great to see a number - despite Qf paying for unknown (but large) sums - can you get any other years? JQ Int allegedly 50% loads, anyone confirm?
Nunc est bibendum
What about JQ international and the game changing 787s they fly Keith? How did they perform? Oh, that’s right. No one knows because those numbers aren’t in the annual reports. Why is that I wonder?
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Whoever is spreading that rumour is either seriously misinformed or is peddling an agenda.
A quick look at the loads on the staff travel website would quash that theory I’m sure.
despite Qf paying for unknown (but large) sums
I know for a fact that I’ve struggled to get a seat on JQ Int’l Staff Travel lately, so 50% loads is incorrect.
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One of the main purposes of Jetstar is to protect mainline, wedge Virgin and to discourage foreign competition entering the domestic market and thereby making mainline less profitablle. Jetstar is key to mainline success. Unfortunately some myopic pilots only see Jetstar as taking “their” commands - as if you somehow own commands.