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Qantas Earnings (Jetconnect)
Sorry to start another Qantas thread
But does anyone know where Jetconnect Earnings and costs are burried in the Qantas Annual report. I've had a quick poke through it but I can't find it anywhere. Is it included as part of the Qantas earnings like Qlink. If so does that mean that Domestic, International, Qlink and Jetconnect only made $67m? Or is the loss from International that great? They seem to be flaunting Jetstar results so if the other Jet is so good for them why aren't they showing them off? Actually sorry for any confusion but this thread doesn't involve Qantas at all because clearly Jetconnect is a wholly owned independant operation and its own management and an NZ bank account. :ok: |
Qantas pays all of jetconnects wages and expenses, plus a margin of 12%. This 12% is paid back to Qantas as a 'profit'. Last year that figure was $67m. Good luck finding that in their annual report...
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As it is a separate wholly owned subsidiary of Qantas it has it's own bank accounts and CFO.
Just browse newzealand business website. Here is the latest financial statement for Jetconnect http://www.business.govt.nz/companie...3BDF3EA915EE62 You'll find all you need to know. Cheers |
The total expenditure for 2010 was $67,077,233.00 isn't that amazing, it is the same amount as the dividend paid to Qantas.
Since when is a dividend counted as expenditure, particularly as it is broken down to staff/manpower and Aircraft operating variable. Apparently their aircraft require no fuel. And their staff make up over 50% of expenditure whilst Qantas staff make up less than 25%. Are you Qantas execs really this stupid? Or do you think we are? |
Under oath at FWA the CEO admitted he did not know if there was a bank account and he said the profit was a "book entry"...Salaries paid from Australia so how could it be separate....BTW Oliver tells us it is a wholly owned subsidiary...so what is then?:confused:
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Jetconnect is nothing more than a labour hire company,
set up by our esteemed board of directors as an experimental model to outsource and offshore all our positions. A complete scam on the Australian workforce. Oops, we fell for it. |
Jetconnect was set up by Qantas 10 years ago when Ansett NZ went bust. Qantas mainline 737 pilots jumped at the chance for a NZ holiday secondment.
It was then expanded to operate as NZ's second main trunk airline. It was a profitable domestic airline with a mix of Aussies and kiwi pilots, mostly Aussies. In 2007 most of the Aussie pilots left to joined Pacific Blue. Jetconnect nearly went under, two very senior Qantas current A380 captains were given the task as CEO and Cheif pilot to sort it out and stabilize the business. In 2009 a profitable domestic Jetconnect airline was pushed out by Jetstar (familiar tune) and put on to Tasman routes. this happened while the two current mainline A380 Captains were in charge. Paul Daff the current CEO started with the company around 2010, he is not the CFO so would assume not have much to do with the accounts. Jetconnect is NOT a labour hire entity as many of you may think. Jetconnect is infact an enemy of your own making. Built by Qantas mainline and maintained by Qantas mainline. If you look closely at the financial reports you will see money in bank accounts. There was also quite a healthy deposit made to Jetstar when the NZ domestic operations were handed over. I know this is a rumor network but we need to get the facts right before charging in with "it's a labor hire company set up to take work off Australians" Did the unions tell you that people. Do you not do your own research when people tell you stories? |
The 2 mainline A380 Captains that went over to save Jetconnect were ex Australian Airlines (AO) holding the same positions in AO. So let's be clear that these were management pilots with a management agenda going over there.
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Qantas mainline 737 pilots jumped at the chance for a NZ holiday secondment. Jetconnect is NOT a labour hire entity as many of you may think. Jetconnect do not operate the flights - Qantas does. Jetconnect provides the crew and the administration of the local AOC. Qantas provides the training, flight planning, aircrew rostering, sells the tickets, you name it. That's not an "airline". That's a labour hire company. If you look closely at the financial reports you will see money in bank accounts. There was also quite a healthy deposit made to Jetstar when the NZ domestic operations were handed over. This statement actually says a lot. It is nothing more than a labour hire company completely controlled by it's parent. It is not an independent wholly-owned subsidiary airline as they would like us to think. The numbers on the balance sheet are notional numbers created by accountants that have no bearing on the profit or loss of the "airline" if, indeed, it were an "airline". |
No Qantas mainline 737 pilots operated trans-Tasman and domestic NZ flights as a normal part of patterns of flying originating in their home base. Oh well, so it has been a "LABOUR HIRE" company as you desperately cling to. A Labour hire company that was set up by Qantas ten years ago in New Zealand running domestic routes having nothing to do with Australia other than Australian pilots flying the aircraft and yes Qantas mainline B737 pilots doing secondment flying. Check your facts mate. Also there was two mainline captains working for Jetconnect as little as three years ago. Looks like this little NZ holiday for the boys is coming back to bite you in the ass! I Just love carma, it's classic how the Mighty Qantas pilots can fly anywhere in the world and take everyone else's flying but when the shoes on the other foot! Ain't the truth a bummer. No matter how hard you complain about the current situation, you blokes designed it! |
Hold your head up high mate. Be proud of your career progression. Well done. But every time you put on the uniform remember you are a fraud.
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Well if it walks like a duck, flies like a duck, talks like a duck, gets trained by the other ducks and follows the other ducks SOP's, wears the ducks feathers but gets paid 40% less then ain't that a duck! Or maybe a goose, quack!! Sorry I mean honk!
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You have quoted me and removed a comma, thus completely changing the quote.
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I better sign off as I'm obviously ruffling some feathers, honk
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Thanks for your reply
Where would the profit from jetconnect and cobham for that matter be shown in the Qantas report? Also wheres fuel being accounted for in Jetconnect expenditure? Maybe they fly special 737s from Boeing that don't need fuel. |
What a difference a comma makes
Fruet, your selected quoting and editing of that quote shows you to be the same sort of spin merchant as those who head up Qantas. If you have to resort to those sorts of tactics to put your point across then you're morally bankrupt. :=
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Jesus tough crowd! Because I missed a comma whilst cut and pasting on my I phone with my fat thumb? Call the cops! Obviously people on here don't like hearing the truth!!??
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Fruet, isn't it true that JetConnect commenced ops in October 2002 after the demise of Tasman Pacific Airlines, a Qantas franchise operating as 'Qantas NZ'. TPA (Qantas NZ) was created after the demise of Ansett NZ and operated a similar service. You seem to have forgotten that Qantas mainline only sent pilots and aircraft to allow the airline to continue until it was able to reestablish itself, and should not been seen as interlopers who stole 'flying'. To the contrary of your argument QF mainline pilots have not stolen anybody elses flying, however the opposite is the case whereby jobs are heading overseas to 'cheaper foreign' options.
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Yes all correct and as I quoted. Sorry to say about the whole Qantas guys stealing flying, not so obviously, just helping I guess to establish the airline in it's current form.
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Qantas did NOT start up Jetconnect.
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No. Not in it's 'current form'. In it's previous form as a domestic NZ airline. Tasman flying was being done by mainline- 767 and 737. QF mainline were withdrawn from that flying and Jetconnect took it over when Qantas withdrew from NZ domestic flying.
The irony in all of this is that a recent letter from the Chief Pilot of Qantas said that our actions were putting Jetconnect pilots job in jeopardy (an assertion I reject) and yet it was Qantas' actions in withdrawing from Tasman flying that have put Qantas pilots jobs in jeopardy and caused a significant reduction in flying hours (and pay) for mainline pilots. It's nice that the QF Chief Pilot is concerned about Jetconnect pilots' jobs. I wish he's show the same concern for ours. The issue with the comma was that it changed HF's sentence completely and made him appear incorrect when in fact, you've now agreed with his original sentiment. |
Groaner you may wish to open the pdf file at the link below, have a read and you may then wish to reconsider your claim about who started JetConnect. Please note the area marked "Name of Proposed Company" and the ('residential' :=) address of the director.
NZ Companies |
Groaner, If there is any doubt left in your mind as to who did NOT start JetConnect, try the other record of shareholding from the same date, the date that JetConnect was incorporated.
JetConnect shareholding .pdf |
Qantas did NOT start up Jetconnect. All to be seen on the NZ companies website. Read all about it and do some research instead of putting me on the cross with no trial. I guess it was a bit like a "link" carrier only in New Zealand, out of sight out of mind. It all started to turn to poos when Jetstar took over NZ domestic flying (not a squeak from the Qantas pilots then) and Jetconnect were shuffled into it's current piggie in the middle situation doing Tasman flying. Probably because of the local employment laws when replacing one company product with another under the same company umbrella. Yep you can all go on about being a "labour hire company" and "theres no record of Jetconnect paying for fuel" but at the end of the day they do in fact pay their own way as a separate company, they do in fact have a bank account and they are probably one of the only operators on the Tasman to be currently making a profit. And yes they were ex Australian Airlines excecs come Qantas A380 Captains that sorted the company out. At the end of the day it was a beast that was created by you Qantas people and assisted in the early days by you Qantas pilots so stop ya bloody whinging!! Quack :ugh: Keg, you are incorrect about Qantas pilots flying the Tasman until Jetconnect were taken over by Jetstar. Jetconnect were doing roughly just over half the Tasman flying on B737-300/400 for quite a number of years before Jetstar took over NZ domestic. It's only since the B767 has been taken off the Tasman and replaced with Jetconnect that the extra exposure with the unions has come about. |
As Keg states, all current routes flown by Jetconnect were previously flown by Qantas mainline. We used to overnight in NZ.
When Jetconnect started operating NZ domestic routes, we were told it was not economical for QF mainline pilots to fly NZ domestic on Australian based patterns. We accepted this as we retained the original trans Tasman routes. When Jetconnect started operating QF trans Tasman services and ceased NZ domestic services it became apparent that we had been lied to again by QF management. |
With the exception of CHC-SYD B767 and AKL-SYD B767 and B737-800 service all of the WLG_MEL, WLG-BNE, WLG-SYD, AKL-BNE Tasmans were flown by Jetconnect for many years before domestic going plus the odd AKL-SYD. That is fact. Enough said!
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Let me check my log book. Yep. AKL-BNE-AKL on the 767. AKL-MEL-AKL on the 767. CHC-MEL-CHC on the 767. SYD-WLG-SYD on the 767. You don't think we didn't blow up about this when Jetconnect first started taking over those routes even though it was still mainly domestic?
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It emerged at the Fair Work hearing last week that Jetconnect's chief executive, Paul Daff, had little control over his company's operations and Qantas moved money in and out of its accounts without consulting Jetconnect. Asked about a one-off dividend of $67 million Jetconnect is reported to have paid Qantas in January, Mr Daff said no money was transferred and he did not have any role in determining the dividend. “Ultimately the vast majority of it would have come from Qantas,” Mr Daff said. “It was a book entry.” He also conceded that Qantas paid Jetconnect pilots their wages directly. Qantas owns all the Jetconnect aircraft… Flight planning was contracted to Qantas by Jetconnect. The parent paid all the bills for its subsidiary and set its budget. Qantas regional general manager for New Zealand, Grant Lilly, conceded that Jetconnect did not have its own bank accounts and employee entitlements were accounted for as liabilities in Qantas's account. You seem to be unable to make a distinction between Qantas pilots and the management of the QF group. We didn't start the fight. We're just trying to survive it. Try not to lose sight of who the 'Bastard Child' is. |
Hey hey hey boys and girls, I am just pointing out the truth as it is, I'm not trying to take anything away from your current job security plight. I was just correcting the guys with the early posts that's all. By the way my log book is full of Tasman flying on ZK registered aircraft for the past 6 years so I guess they were sharing the love?
All of my posts were factual and not meant to offend, sorry if I have, it just pees me off reading bull****, especially against the geese! Hasn't Qantas just purchased a jet operation in western Australia? Better get on to them as well while you're at it. Peace |
jetconnect Recruitment: Attention
from their website... Operating since 2001 as a subsidiary of Qantas Airways Limited, the team at Jetconnect provide crew to Qantas Airways and Jetstar Airways. There is the proof, Jetconnect, a labour hire company. As if the jetstar takeover of the JX routes wasn't orchestrated by Qantas exco since the get go. Looks like all the players in this game have had the wool pulled over their eyes. |
Regardless, it was set up by Qantas, initially crewed by mainline pilots. Call it a labour hire company all you like mate, it's not going to change that fact. Not quite getting what you are trying to say?
The irony is that you pick up a paper these days and you read the articles from the AIPA reps quoting "Australian pilots for Australian jobs" yet again there is another company just set up in NZ called Jetstar flying around mostly crewed by Aussies on the "crap terms and conditions" can you imagine if Air New Zealand came over and operated in Australia on their T&C's being crap because it is NZ dollars? I would hate to think. And what have you Aussies and your union done to stop the T&C's in NZ for jetstar? Nothing, why? Because it's not on your doorstep yet. But like Jetconnect, the ugly "bastard brother" Qantas built, it will and then you blokes will Cry foul. But just now it's ok because its in NZ. Does Jetstar have a bank account? Do they have a fuel account? Do they have anything to do with NZ other than a company name? No, they don't even have kiwi registered aircraft. A labour hire company? Yep, what are your unions doing about that? |
Fruet,
I personally, as a Qantas mainline Pilot, have flown SYD, MEL,and BNE to CHC, AKL and WLG on 747, 747-400 and 767s BEFORE Jetconect EXISTED! While they were only domestic I also flew 737s from ADL. These are mainline routes.:mad: "enough said!" Make you a deal, you take Jetstar NZ and we take Jetconnect!:E Are you Kiwis fighting the JetstarNZ conditions?:ugh: |
Division1, what do you think 24million is for in the aircraft operating variable costs on the financial statement? Tea and coffee? perhaps maintenance and fuel?
I don't deny that Qantas is a proud airline and I don't like what this management team is doing to your legacy. Personally if you guys were to kick Jetconnect off the Tasman I would congratulate you, but unfortunately the airline business has changed and this management team will just replace Jetconnect with another operator, probably Jetstar. Remember the Jetconnect guys and girls are the shyte stuck in the sandwich at present. Either way, it's shyte for Jetconnect, shyte for Qantas and all go for Jetstar. Enough said |
Yes actually through NZALPA with collective bargaining supported by all who is in ALPA, Air New Zealand, Jetconnect and PAC Blue pilots. Trying to establish an EBA after the rush of Jetstar pilots from Aussie taking quick commands and establishing shyte T&C's for their own good. Sound familiar Qantas guys and girls?
We'd gladly take back our NZ domestic flying in a heart beat. Just remember guys we didn't have a choice, much like you. We are at the whim of this management team also. |
I was flying Bne-Wlg returns in 1999 in a 737. Why is QANTAS painted on the side? Because ASIC has no legal jurisdiction over a NZ registered aircraft. It is blatant false and misleading advertising under the Trade Practices Act however ASIC's response to my correspondence 6 years ago was that it would have to be taken up via the Kiwi counterpart to ASIC as it was they who were responsible. Went to AIPA guess what? Zip. Imagine if we started up an aussie Air New Zealand with a Koru painted on the tail and flown by Aussies with thuck aussie accents.
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Fruet, as you say, we are on the same team and we have a common enemy.
There are plenty of things QF shouldn't have done, and are about to do that they shouldn't do. There are plenty of things AIPA, NZALPA, AFAP etc should have done that they didn't do - or perhaps weren't able to do due to the cross-jurisdictional barriers and governments on both sides of the Tasman who were not interested in helping. This is what the current upheaval in Australia is all about. This is what the Fair Work Australia case about Jetconnect salaries is all about. Hopefully, there will be more to come. The ultimate aim is for us all to coordinate and stop this rot of destroying airline jobs in our region. As you say, peace friend. |
Not trying to start a fight!
Fruet
Not trying to start a fight, when you look at page 3 of the Jetconnect Financial report. Under the expenditure for Manpower, Aircraft Operating Variables, If we have a look at Qantas Annual report available here [URL="http://www.qantas.com.au/infodetail/about/investors/2010AnnualReport.pdf"] We have a similar list Manpower, Fuel, Aircraft Operating Variables and others. Fuel is included in this list yet its missing from the one in Jetconnect's report. Why? How many 737 does Jetconnect operate? |
Mate I have absolutely no idea why that wouldn't be printed? Maybe you can ask your management team about the accountancy rules for a wholly owned subsidery company of Qantas. I'm a pilot not an accountant and I'm taking a rough stab in the dark that you're not either?
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Guys I've about cooked my goose here, excuse the pun, I'll bow out gracefully with wishing all you Qantas guys and girls all the best, I really do sincerely mean that. Good luck
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how many 737 does jetconnect operate? zk-jtq 737-476 zk-jtr 737-476 zk-zqa 737-838 zk-zqb 737-838 zk-zqc 737-838 zk-zqd 737-838 zk-zqe 737-838 zk-zqf 737-838 |
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