Go Back  PPRuNe Forums > PPRuNe Worldwide > Australia, New Zealand & the Pacific
Reload this Page >

Qantas announces $1.9 billion loss

Australia, New Zealand & the Pacific Airline and RPT Rumours & News in Australia, enZed and the Pacific

Qantas announces $1.9 billion loss

Old 22nd Aug 2020, 22:41
  #41 (permalink)  
 
Join Date: Jun 2010
Location: Sydney
Age: 40
Posts: 483
Likes: 0
Received 0 Likes on 0 Posts
Don't be fooled by the figures.

Qantas actually made a $120m profit (awesome effort).

Huge write down of 380 fleet (note the exact same thing happened to the 747's)

$600m for redundancy payouts (funded by the release of new shares)

It cost Qantas nothing. It's nothing more than a paper loss for future company tax relief.
normanton is offline  
Old 22nd Aug 2020, 23:01
  #42 (permalink)  
 
Join Date: Sep 2019
Location: HKG
Posts: 399
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by normanton
Don't be fooled by the figures.

Qantas actually made a $120m profit (awesome effort).

Huge write down of 380 fleet (note the exact same thing happened to the 747's)

$600m for redundancy payouts (funded by the release of new shares)

It cost Qantas nothing. It's nothing more than a paper loss for future company tax relief.
So are you now telling us LWOP is not required to secure our future? All is rosy?
Green.Dot is offline  
Old 22nd Aug 2020, 23:02
  #43 (permalink)  
 
Join Date: Aug 2006
Location: Land of Oz
Posts: 302
Received 26 Likes on 10 Posts
Originally Posted by normanton

It cost Qantas nothing. It's nothing more than a paper loss for future company tax relief.
Nothing more than a paper loss for an amaaaaaaaaaazing turn around and another amaaaaaaaazing 26 Million bonus😒😒
No Idea Either is offline  
Old 23rd Aug 2020, 04:49
  #44 (permalink)  
 
Join Date: Jun 2010
Location: Sydney
Age: 40
Posts: 483
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by Green.Dot
So are you now telling us LWOP is not required to secure our future? All is rosy?
Not at all. The second half of the year was a huge loss. Shielded by the fact that the first half was a huge profit.
normanton is offline  
Old 23rd Aug 2020, 11:47
  #45 (permalink)  
 
Join Date: Jun 2001
Location: Not at work
Posts: 1,569
Received 59 Likes on 30 Posts
Originally Posted by Green.Dot
So are you now telling us LWOP is not required to secure our future? All is rosy?
Haha, gold!
Transition Layer is offline  
Old 23rd Aug 2020, 20:59
  #46 (permalink)  
 
Join Date: Jun 2008
Location: Kichin
Posts: 1,022
Received 652 Likes on 181 Posts
Originally Posted by normanton
Don't be fooled by the figures.

Qantas actually made a $120m profit (awesome effort).

Huge write down of 380 fleet (note the exact same thing happened to the 747's)

$600m for redundancy payouts (funded by the release of new shares)

It cost Qantas nothing. It's nothing more than a paper loss for future company tax relief.
So you’re saying that QF is profitable but just not profitable enough?
gordonfvckingramsay is offline  
Old 23rd Aug 2020, 22:33
  #47 (permalink)  
 
Join Date: Jan 2000
Location: Australia
Posts: 21
Likes: 0
Received 0 Likes on 0 Posts
Big write-offs in B747 values a few years back and A380's now simply confirm that previous profits were overstated by not charging sufficient depreciation etc.
Sets it up for a stream of higher profits as happened with the last big write-off a few years ago.
Very cunning!!
Reflex10 is offline  
Old 24th Aug 2020, 00:26
  #48 (permalink)  
Keg

Nunc est bibendum
 
Join Date: Apr 1999
Location: Sydney, Australia
Posts: 5,583
Received 11 Likes on 2 Posts
Tino La Spina boned.
Keg is offline  
Old 24th Aug 2020, 00:50
  #49 (permalink)  
 
Join Date: Sep 2011
Location: Unfortunately not the Orient
Posts: 385
Likes: 0
Received 83 Likes on 31 Posts
Terrific. Now he can get a job at dodgy brothers used cars, where his talents can really be used.
SandyPalms is offline  
Old 24th Aug 2020, 01:00
  #50 (permalink)  
 
Join Date: Aug 2013
Location: Qatar
Posts: 55
Likes: 0
Received 8 Likes on 1 Post
Was COVID the excuse or the reason ?
Denied Justice is offline  
Old 24th Aug 2020, 01:08
  #51 (permalink)  
 
Join Date: Dec 2001
Location: Melbourne
Posts: 421
Likes: 0
Received 23 Likes on 14 Posts
....or shielded by a dubious selection as to what is normalised profit. Having staff would seem to be part of running a business so not entirely sure why exiting the staff is not part of normal profit. The same applies to fuel hedging.
1A_Please is offline  
Old 24th Aug 2020, 01:21
  #52 (permalink)  
 
Join Date: Aug 2011
Location: aus
Posts: 8
Likes: 0
Received 0 Likes on 0 Posts
stranded cost?
upset jet is offline  
Old 24th Aug 2020, 01:30
  #53 (permalink)  
 
Join Date: Jun 2017
Location: dancing pole
Posts: 1
Likes: 0
Received 0 Likes on 0 Posts
Sorry for a silly question - why does AJ takes 65% cut while others take 85%? Shouldn't he or all staff on the same pay cut?
banana cucumber is offline  
Old 24th Aug 2020, 01:44
  #54 (permalink)  
 
Join Date: Dec 2013
Location: Elsewhere
Posts: 608
Received 67 Likes on 27 Posts
Originally Posted by banana cucumber
Sorry for a silly question - why does AJ takes 65% cut while others take 85%? Shouldn't he or all staff on the same pay cut?
Maybe Tino made the mistake of asking the same thing.
itsnotthatbloodyhard is offline  
Old 24th Aug 2020, 01:50
  #55 (permalink)  
 
Join Date: Feb 2000
Location: Outofoz
Posts: 718
Likes: 0
Received 10 Likes on 7 Posts
Hickey, Webster, Evans, la Spina. Hmmm seems like they aren’t getting the right talent. Good luck Andrew David. Thank god the bloke at the top is so good.
hotnhigh is offline  
Old 24th Aug 2020, 02:22
  #56 (permalink)  
 
Join Date: Jun 2011
Location: The World
Posts: 2,269
Received 322 Likes on 175 Posts
As much as dabbling into conspiracy theories about why TLS is leaving makes us all think we’re smarter and know the “real truth”, the story presented is by far the most logical one. His position became redundant as Int CEO as there is no Int flying forecast for a year. When it does start up again it could probably be managed under existing management structures for a little while before a dedicated Int CEO is needed again.

As much as TLS copped criticism over his initial letter to Flt Crew last year, I think he showed a lot of effort by turning up to most webinars and taking questions on demand. It’s never a good thing to be made redundant in any job.
dr dre is offline  
Old 24th Aug 2020, 02:29
  #57 (permalink)  
 
Join Date: Jul 2007
Location: Sydney
Posts: 244
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by dr dre
As much as dabbling into conspiracy theories about why TLS is leaving makes us all think we’re smarter and know the “real truth”, the story presented is by far the most logical one. His position became redundant as Int CEO as there is no Int flying forecast for a year. When it does start up again it could probably be managed under existing management structures for a little while before a dedicated Int CEO is needed again.

As much as TLS copped criticism over his initial letter to Flt Crew last year, I think he showed a lot of effort by turning up to most webinars and taking questions on demand. It’s never a good thing to be made redundant in any job.
If they wanted him to stay, they would have found a lower position for him. Who knows if he was offered that.....he might have been given another role and decided against it
Qantas 787 is offline  
Old 24th Aug 2020, 02:40
  #58 (permalink)  
 
Join Date: Jun 2019
Location: Denmark
Posts: 0
Likes: 0
Received 0 Likes on 0 Posts
TLS never got a stand down clause in his contract I'm guessing!
Ragnor is offline  
Old 24th Aug 2020, 02:44
  #59 (permalink)  
 
Join Date: Jun 2010
Location: Sydney
Age: 40
Posts: 483
Likes: 0
Received 0 Likes on 0 Posts
Crikey! If this isn't a wake up call for many, I don't know what is.
normanton is offline  
Old 24th Aug 2020, 04:03
  #60 (permalink)  
 
Join Date: Apr 2019
Location: Australia
Posts: 358
Likes: 0
Received 0 Likes on 0 Posts
Originally Posted by banana cucumber
Sorry for a silly question - why does AJ takes 65% cut while others take 85%? Shouldn't he or all staff on the same pay cut?
AJ's salary has been reduced to 65% of normal pay, his direct reports are on 85% of normal pay.

I'm sure AJ can afford it!
Stickshift3000 is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.