Qantas announces $1.9 billion loss
Whether he’s posturing for a government handout or laying down a precursor to more job losses/downward pressure on pay and conditions, the only certainty is he will do VERY well out of this while we all burn.
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While the share price is low, AJ & his sidekicks will transfer all of their income to share options at a predetermined price and stave of taking any salary for as long as they can/have to. Then when the timing is right and/or there's a big enough distraction, they'll collect their share options and cash them in. A very large percentage of executives around the world are using the same strategy during the downturn.
It's already receiving it under the RANS and DANS programs, although the support is going on fewer routes as time goes on. It is route specific and aimed at ensuring a minimum level of connectivity, so not a bailout per se, but certainly helping to flights in the air.
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But seemingly not the investors. Share price up almost 4% the day after the announcement. Share price up to $3.70 from $3.20 three weeks ago. They’re seeing something these supposed bankers aren’t.
The board and the shareholders know very well that the Gov will never see the country without a national carrier, all they have to do is sit back and await the ill gotten gains. Then the recovery with an effective monopoly will see them all rewarded handsomely with post COVID price hikes a certainty.
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Although I suspect WA won’t care, they will just keep feathering their own nest and keep riding on their resources to prop them up.
Last edited by Green.Dot; 22nd Aug 2020 at 21:45.
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