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QF Group possible Redundancy Numbers/Packages

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QF Group possible Redundancy Numbers/Packages

Old 26th Jun 2020, 02:07
  #501 (permalink)  
 
Join Date: Jul 2010
Location: Asia
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Realistically, when the government sends in the army over a few cases of COVID - 19 in Victoria, international flying is unlikely to resume this year with the exception of NZ and possibly limited travel bubbles. Profitable international flying will take even longer to come back and the network planners will be starting from scratch with a clean sheet of paper rather than simply reinstating the previous routes. Due to the distances involved in international flying from Australia, widebody aircraft are normally required to reach most destinations in Asia and beyond, these will be difficult to fill at first. Running a hub through Darwin with the B737s into SE Asia could be considered until direct routes become viable again.

City pairs which previously supported direct flights may have to go through a hub instead, double daily may go daily, wide body may go narrow body. Certain routes may turn into cash cows if competing airlines withdraw. Matching capacity growth to pax growth needs to be done right else money is lost or profits are missed.

When to jump back in requires careful judgement due to the lead time required and the necessity to operate at a loss for as short a period as possible. SIA are flying a skeleton international network due to the need to maintain connectivity, but this needs Singapore government backing as pax numbers reaching three digits is cause for celebration.

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Old 26th Jun 2020, 02:14
  #502 (permalink)  
 
Join Date: Jun 2020
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QF A380 is one for the history book now, you won't see it flying people ever again. They are just letting the shareholders down lightly.
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Old 26th Jun 2020, 02:22
  #503 (permalink)  
 
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Originally Posted by Blueskymine View Post
love him, hate him, I donít care. However Iím glad heís the one in the big seat. It means the company will survive.

At the end of the day Qantas ainít a government entity anymore. Many still behave as if it is.
this in spades
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Old 26th Jun 2020, 02:34
  #504 (permalink)  
 
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I have professional respect for Joyce (I am a shareholder after all!). We have seen he will take the hard decisions for the company and that is the point. Like all business, Qantas is just that. You could be the pope himself working for any company but if the CEO needs to cut you he/she will. I question however whether anyone is worth 24 million a year who then goes onto say we need to make cuts to be viable.
Anyway we must all face forward and continue making progress...just remember the brace position.
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Old 26th Jun 2020, 02:38
  #505 (permalink)  
 
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Originally Posted by Blueskymine View Post
love him, hate him, I don’t care. However I’m glad he’s the one in the big seat. It means the company will survive.

At the end of the day Qantas ain’t a government entity anymore. Many still behave as if it is.
But is it competance or luck that has resulted in Qantas faring better than others? Have there been any radical decisions taken that few other CEOs might have?

Im not trying to sound negative, but its a question fanboys should ask.

I think that fleets of 4 engine aircraft and tired 330s in this day and age is terrible, however it doesnt look so bad when a black swan event grounds any fleet you have anyway.
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Old 26th Jun 2020, 09:06
  #506 (permalink)  
 
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Originally Posted by normanton View Post
They spent $500m on refurbs for 6 of them. At least 6 will come back. My guess is the remaining money from the share raising will be used to buy 350s.
Only three are done, two are a WIP, and QF have sent refits to retirement not long after they were done in the past
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Old 26th Jun 2020, 09:38
  #507 (permalink)  
 
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Originally Posted by ozbiggles View Post
I have professional respect for Joyce (I am a shareholder after all!). We have seen he will take the hard decisions for the company and that is the point. Like all business, Qantas is just that. You could be the pope himself working for any company but if the CEO needs to cut you he/she will. I question however whether anyone is worth 24 million a year who then goes onto say we need to make cuts to be viable.
Anyway we must all face forward and continue making progress...just remember the brace position.
How much has he devalued the company by today with a 9% drop in the share price.
I would rather have my money in the bank earning 1% as opposed to letting someone gamble with it & having no obligation to repay it when suddenly its not there any more.
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Old 26th Jun 2020, 10:25
  #508 (permalink)  
 
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Joyce is an incompetent business owner.

He has built a management Ďteamí on total lack of vision and complete focus on remuneration.

No vision, no instinct, no feel and no understanding of, nor for, the business.

He has risen to the top of a middling field by being a total yes man (Iím deliberately leaving the bending over jokes aside) and _always_ pleasing the boss.

Thatís the beginning and end of it. In short, the antithesis of ANYONE I would employ and if I hadnít seen such incompetence first hand Iíd never have believed it.

The board and the bankers that back the tool have exactly the same non experience in anything business related so they think heís great.

None of them would be able to competently manage so much as a cafe. If they had, Qantas would be the type of airline it was 30+ years ago where everyone gave their all as a matter of course.



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Old 26th Jun 2020, 10:31
  #509 (permalink)  
 
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Originally Posted by Lapon View Post
But is it competance or luck that has resulted in Qantas faring better than others? Have there been any radical decisions taken that few other CEOs might have?

Im not trying to sound negative, but its a question fanboys should ask.

I think that fleets of 4 engine aircraft and tired 330s in this day and age is terrible, however it doesnt look so bad when a black swan event grounds any fleet you have anyway.
I suppose an analogy is this.

Qantas is like a conservative 60+ year old couple living in the outer burbs who own everything, have various investments and pay for things in cash.

Other airlines are like a gen y share trader who own nothing, lease everything and has done pretty well
in the good times.

Itís good to own things when the times are bad. Qantas mostly owns itís ageing fleet.
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Old 26th Jun 2020, 10:35
  #510 (permalink)  
 
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Yep - incompetent, over the hill and not in it for anything but the cash.

Contain my excitement and tell me how I sign up to work for a failing and unenthused dinosaur.....
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Old 26th Jun 2020, 11:02
  #511 (permalink)  
 
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Originally Posted by Blueskymine View Post
I suppose an analogy is this.

Qantas is like a conservative 60+ year old couple living in the outer burbs who own everything, have various investments and pay for things in cash.

Other airlines are like a gen y share trader who own nothing, lease everything and has done pretty well
in the good times.

Itís good to own things when the times are bad. Qantas mostly owns itís ageing fleet.
Imagine owning a modernised fleet and what could have been achieved over the last 10 years.

Also Qantas is not a conservative 60 year old couple, what they lack in lease commitments they make up for in debt.

Right now the answer seems by sheer luck to be correct, but with the wrong working.

In my opinion AJ has not done anything that any other CEO would have done in handling the crises. It's the past performance I'm dubious about.
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Old 26th Jun 2020, 12:47
  #512 (permalink)  
 
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With multiple billion dollar profits leading up to this year, decent reserves of cash to stay afloat for 18 months and good financial discipline have put the company in one of the best positions for an airline worldwide in dealing with this. The way some posters here are talking they would rather the airline be loaded up to the eyeballs in debt paying off orders of dozens of 777s.

Being in this position didnít come about by luck, it was due to smart financial management.
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Old 26th Jun 2020, 14:04
  #513 (permalink)  
 
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Originally Posted by dr dre View Post
With multiple billion dollar profits leading up to this year, decent reserves of cash to stay afloat for 18 months and good financial discipline have put the company in one of the best positions for an airline worldwide in dealing with this. The way some posters here are talking they would rather the airline be loaded up to the eyeballs in debt paying off orders of dozens of 777s.

Being in this position didnít come about by luck, it was due to smart financial management.
Smart finacial management, or inaction that resulted in a favorable position this time around?

We can all imagine our own 'what if's', but I dont have any major criticism of the handling of the current crises to date.
Whether the handling has been the stuff of genius, or simply a CEO doing his/her job is what tempers my praise.
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Old 26th Jun 2020, 14:40
  #514 (permalink)  
 
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Angry, hindsight is a wonderful attribute.
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Old 27th Jun 2020, 01:28
  #515 (permalink)  
 
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I’m not sure how you expect him not to destroy some equity in the middle of a pandemic? Same reason unfortunately airlines are letting 20-50-100% of their staff go. I mean never waste a crisis but things can’t stay the same and survive in this environment.
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Old 27th Jun 2020, 02:53
  #516 (permalink)  
 
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You could have had Borghetti!
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Old 27th Jun 2020, 04:03
  #517 (permalink)  
 
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With QF now a very different airline going forward do we need 3 CEO’s?

Surely we should make at least 1 redundant. Andrew David has been MIA (couldn’t phone in to at least 1 webinar over the last 8 weeks wtf?)
And then we have Tino, CEO of a non existent International.
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Old 27th Jun 2020, 04:22
  #518 (permalink)  
 
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Originally Posted by ozbiggles View Post
You could have had Borghetti!
They nearly did.
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Old 27th Jun 2020, 04:48
  #519 (permalink)  
 
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In defense or JB he did have a vision.

Sure, ego and execution got in the way, but the basic vision was there. It looks like that might potentially be realised now for VA going fowards (one hopes).
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Old 27th Jun 2020, 05:15
  #520 (permalink)  
 
Join Date: Dec 2013
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Seems to me that the problem with Borghetti was that he tried to run Virgin like it was Qantas. Perhaps if heíd got to run Qantas like it was Qantas, the result wouldíve been very different. Weíll never know.
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