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

QF Losses

Old 24th Feb 2021, 22:22
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QF Losses

Qantas have just announced a $1.08 Billion dollar loss in the last 6 months .
That's a hell of a lot of money but they reckon they still have $4 billion to tide them over.
Nice to have a little nest egg to fall back on.
This disastrous Covid bug sure has played havoc with a lot of balance sheets!!!
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Old 24th Feb 2021, 22:42
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Reading the ASX seems if domestic borders remained open QF group would be making a squillion. 70% decline in revenue and QF (domestic) QLink and JQ were generating positive cash flow JQ seeing 250,000 booking in Novemebr. Then there is the freight which is going off. International, well thats obvious outcome.

Once consumer confidence returns I think QF group will drown out any competitor.
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Old 24th Feb 2021, 23:20
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Originally Posted by SHVC View Post
Reading the ASX seems if domestic borders remained open QF group would be making a squillion. 70% decline in revenue and QF (domestic) QLink and JQ were generating positive cash flow JQ seeing 250,000 booking in Novemebr. Then there is the freight which is going off. International, well thats obvious outcome.

Once consumer confidence returns I think QF group will drown out any competitor.
Hope so! I want to get back to work and agree QF certainly will dominate the competition in the Australian market once things get back on track.

But I know more than a few people who are sick of Alan/QF announcing "International travel will resume on date X!" to great media fanfare then as it has been the last, what is it now...two times?...zip...nada...no bueno. And this is after taking punters hard earned dollars on bookings in many cases. I still suspect towards mid 2022 will be the absolute earliest customer confidence really starts to return and good things begin to happen with international traffic. Til then a realist can only expect plenty more nasty financial losses are still coming for the group.
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Old 24th Feb 2021, 23:34
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A lot of that stuff about dates resuming flying is about ‘signalling’ to the government and to keep the pressure on them. Perhaps even to generate an expectation in the community that they’ll be travelling soon so that if the government says ‘no’, people power will start to put pressure on them.

I love AJ’s optimism but ‘crazy brave’ is how I would describe the time frame!
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Old 24th Feb 2021, 23:44
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The market doesn’t seem too worried about it all. Share price up 4% this morning. Add to that this article published yesterday about similar share price rises earlier in the week:

Why did Qantas (ASX:QAN) shares soar 4% on Tuesday?

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Old 24th Feb 2021, 23:44
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I think AJ is doing a good job keeping pressure on the gov. Best airline CEO in Australia at the moment I’m sure there are a lot of stood down pilots that will disagree, but the important thing you should have a job still in 2022
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Old 25th Feb 2021, 00:36
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Originally Posted by dr dre View Post
The market doesn’t seem too worried about it all. Share price up 4% this morning. Add to that this article published yesterday about similar share price rises earlier in the week:

Why did Qantas (ASX:QAN) shares soar 4% on Tuesday?
If you read share forums they're very excited for more redundancies to 'cut the fat'
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Old 25th Feb 2021, 01:38
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I don't think we have seen the full extent of redundancies at any Airline. We are not through this crisis and we have more cuts to come I am sure.
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Old 25th Feb 2021, 02:20
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Snoop

Originally Posted by Ollie Onion View Post
I don't think we have seen the full extent of redundancies at any Airline. We are not through this crisis and we have more cuts to come I am sure.
Rumours doing the rounds today is another 1500 VA staff to go next month? Ms Jayne has been too busy with the AO to announce it...
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Old 25th Feb 2021, 02:23
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Where from? Head office has been cleaned out and is extremely lean. Cabin crew have been asked to pay back their voluntary redundancies and rejoin the airline. Don’t think there’s too much left to cut without considerably shrinking the airline.
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Old 25th Feb 2021, 03:05
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Oh dear, I wonder if Mr Joyce has seen this.

Summer holidays hang in the balance after the World Health Organisation urged against using vaccine passports to facilitate international travel.

It said proof of a jab should not be required because there remain 'critical unknowns regarding the efficacy of vaccination in reducing transmission'.

The WHO added that inoculated passengers should not be able to sidestep existing travel restrictions designed to reduce Covid.
Setting out the WHO stance, the interim position paper states: 'At the present time, it is WHO's position that national authorities and conveyance operators should not introduce requirements of proof of COVID-19 vaccination for international travel as a condition for departure or entry.'It is a fresh blow for both holidaymakers and tourism bosses hoping vaccine passports will pave the way for overseas trips.

That people should be mandated to have a vaccine to enjoy greater freedom is a politically divisive issue being fought out in national capitals.

The WHO's paper also says: 'National authorities should choose public health interventions that least infringe on individual freedom of movement.'
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Old 25th Feb 2021, 03:22
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Originally Posted by Ollie Onion View Post
I don't think we have seen the full extent of redundancies at any Airline. We are not through this crisis and we have more cuts to come I am sure.
Jetstar 787 operation and all Jetstar Cadets?

Scoot sacked all the cadets. Local cadets got the boot and Aussie perm residents stayed.

Bring the cadets back mid decade.
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Old 25th Feb 2021, 03:29
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Originally Posted by wheels_down View Post
Jetstar 787 operation and all Jetstar Cadets?

Scoot sacked all the cadets. Local cadets got the boot and Aussie perm residents stayed.

Bring the cadets back mid decade.
Or you could simply enact the redundancy clause as per the EBA without singling out cadets.
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Old 25th Feb 2021, 03:33
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Originally Posted by Ollie Onion View Post
I don't think we have seen the full extent of redundancies at any Airline. We are not through this crisis and we have more cuts to come I am sure.
Unfortunately, I don't think we have either. Despite the narrative of the Company, SH is being squeezed by 717 BNE/MEL base flying, Network in WA, a transfer of "Non- Business" flying to JQ (eg ADL-ASP-DRW), and Alliance in the future.
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Old 25th Feb 2021, 03:33
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Cadets last in, first out. Sorry but everyone feels the same. They get the fast tracked way in, they get the fast tracked way out.
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Old 25th Feb 2021, 03:40
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Originally Posted by wheels_down View Post
Cadets last in, first out. Sorry but everyone feels the same. They get the fast tracked way in, they get the fast tracked way out.
Or again you could simply go with what the EBA states. That is what the majority of the pilot group voted in.
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Old 25th Feb 2021, 03:42
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Not what happened at Scoot, first to go were foreign pilots on work visas , then Singaporean PRs , then likely Malaysian citizens
, objective to protect Singaporean citizens

Not looking great for Australian SOs but at QF at least an extensive warning was given & an option to avoid redundancies was available to all SOs

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Old 25th Feb 2021, 03:54
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Originally Posted by Barrt3344 View Post
Or again you could simply go with what the EBA states. That is what the majority of the pilot group voted in.
JQ EBA is pretty loose around this redundancy clause. 24 I believe. Seniority only being a consideration so seems JQ will do what JQ will want to do despite the unions.
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Old 25th Feb 2021, 03:59
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Originally Posted by Foxxster View Post
Oh dear, I wonder if Mr Joyce has seen this.

Summer holidays hang in the balance after the World Health Organisation urged against using vaccine passports to facilitate international travel.

It said proof of a jab should not be required because there remain 'critical unknowns regarding the efficacy of vaccination in reducing transmission'.

The WHO added that inoculated passengers should not be able to sidestep existing travel restrictions designed to reduce Covid.
Setting out the WHO stance, the interim position paper states: 'At the present time, it is WHO's position that national authorities and conveyance operators should not introduce requirements of proof of COVID-19 vaccination for international travel as a condition for departure or entry.'It is a fresh blow for both holidaymakers and tourism bosses hoping vaccine passports will pave the way for overseas trips.

That people should be mandated to have a vaccine to enjoy greater freedom is a politically divisive issue being fought out in national capitals.

The WHO's paper also says: 'National authorities should choose public health interventions that least infringe on individual freedom of movement.'
What an effing joke. So you get the precious ‘jab’ that Government keeps pushing as being the solution, and then they tell us we still shouldn’t travel and start going about normal activities. Why? Because in the Government’s rush to rush vaccinations through they didn’t account for different variations of the virus, some of which will only be 30% effective. What a joke.
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Old 25th Feb 2021, 06:32
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Originally Posted by Barrt3344 View Post
Or again you could simply go with what the EBA states. That is what the majority of the pilot group voted in.
The EBA states nothing. They can do whatever the hell they want. Your interpretation of the wording is wrong. Read closer.

What went on at Scoot (Cadets) and Tiger (Airbus specific) most certainly could play out here.
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