SKimming the ASX announcement, They are going to ride the Jetstar model all the way into the crash. It seems clear to me that since its the bosses baby, nothing bad can be said about that business model on pain of death.

The reason for the non performance of the Jetstar Asia franchises is that they are "in start up phase" and that there are "regulatory barriers" that they imply will be overcome through having "strong local partners", meaning that they expect that their alleged Chinese business partners will do the palm greasing and allow Qantas to make a profit.

Let me tell you Alan that NO ONE, gets to take profit out of the middle kingdom without a huge fight and you don't have the ability to do that. Furthermore, the youngest Chinese office boy has more "face" than you and your Board, and your "strong local partners" will suddenly turn on you when they have calculated that they have taken you for your last cent.

For the avoidance of doubt, Qantas/Jestras foray into Asia will NEVER earn a meaningful return on investmenr for the Qantas group

I flew from Brisbane to Melbourne last week and I was surprised by the crush of people going through the security screening area closest to Jetstar checkin - wall to wall Bogans. Walking further down the hall to the QF gates I found an almost cloister like silence...and no bogans. The QF aircraft wasn't full either. Their HAS to be cannibalisation of Domestic yields by Jetstar.

To put that another way, Qantas is going to grow itself to death - its called "profitless growth" and it is the first temptaion for many managers; buying market share.

Pilots and engineers to go, especially engineers, management, check in, office staff, terminal space, and on and on it goes, on Sky right now. Joyce on in 45 mins, now ADL engineers are bracing for the worse. PER/SIN to go, JQ appears to be not touched, recruitment for F/O's now open. More to come, Sky has been on this since 0800 this morning. Security stepped up at all QF bases in case the staff ark up. Nothing definite as to who goes in Operations or Engineering, at the present time, but Joyce has mentioned them both. 5,400 to go across the board. Mainly Australian jobs going, not off shore. Good luck to you all, and for those up the track, and feeling quite sick, wishing they were home, you are not missing much, a lot more to come, and if not flying home tonight, I would head to the closest crew bar, and ease the pain. JQ losing three Dreamliners, has just come thru. 26 mins now, to Joyce appearing.

Will be interesting to see how the retirement of the 767 fleet affects the 767 pilots?

If, how does

10:07am: SMH We're still going through Qantas' announcement and here are some more cuts and changes to fleet and flight routes:

• More than 50 aircraft will be deferred or sold
• Qantas has suspended growth at Jetstar Asia in Singapore amid intense competition from other budget airlines in the region.
• Qantas will retime A380 flights between Melbourne and London in November to reduce the amount of the time the planes stay on the ground at London’s Heathrow Airport. No mention of ditching the route though, as had been speculated.
• The retiming will free up A380s, which Qantas will consider flying on other routes.
• Qantas will retire six Boeing 747 jumbos in the second half of 2015-16, earlier than scheduled.
• All of its Boeing 767s will be retired by the first quarter of 2014-15.

Extra security for Virgin, also staff on standby, should QF walk.

The vulture is awaiting his moment......
 

Mr Abbott, how do you intend to further your agenda with all this blood laying around? We are as sure as hell that your not busy scripting the next phase. Just pull it out of the draw, dust it off, and blast away.....
And while Hockey is 'kicking and screaming', put a dummy is his gob before he has another televised melt down and tells the truth........

Joyce has to go. Hopefully the useless media can ask him the tough questions.
This has nothing to do with the Abbott Government you fool. It's the current QF managements strategies that have been the only reason for the current results.

From the announcement it looks like there will be an increase in 330 flying and possibly some on the 380, so I guess there or else some others to the 737?

Interesting that there has been no comment in the last few days since the 'expected' numbers were spoken of, from the National Secretary of The Australian Workers' Union.

Is he os utilising staff travel?

Reduce turn time in LHR by a few hours and hey presto, you've got 380's available to do a Sydney - Canberra and Melbourne - canberra return on a Friday arvo to fly all your political backers and sympathisers home for the weekend! Fancy Neil Perry food, endless Grange, would just like to see the clamber for the 14 P class seats !

Air NZ soars, Qantas plummets

Updated 20 minutes ago
Air New Zealand has reported a record first-half profit - a result it attributes to hard work and a relentless focus on global sales and marketing.


The airline's net profit rose by 40 percent to $140 million for the six months to December, compared with $100 million in the same period a year earlier.
Air New Zealand says it's well placed to take advantage of the positive economic outlook in many of its key markets.
It says significant additions to its fleet due are also due to arrive soon, which it expects will grow its capacity by the next financial year.
The airline has lifted its dividend by 50 percent to 4.5c.
It's a different story across the Tasman, where Qantas has announced a half-year loss of more than $A250 million, which is in line with the earnings guidance it gave in December.
It has also announced it's cutting the equivalent of 5000 full-time jobs as part of savings measures worth more than $A2 billion.

Did I miss something
 

Ummm,

Did anyone catch that comment that they will go from 11 aircraft types to 7 by the end of 2016 ?

What else are they getting rid of ?

F100?
Brazilia?

Re the cuts to operational staff...

would the retirement of 767/747 mean there will probably be a lot of QAL CC in the line?

5000 jobs, including the 1000 already announced, the closure of YMAV and ADL catering. 1500 are management, so maybe 2000 new jobs gone......

At least the 330 config is still going ahead!

Jetstar international must be losing a mint too, if JQ dom is still profitable

I want a journo to ask one question.

"How much money has been spent on the Asian Jetstar franchises and when will there be a return on that capital?"

$1 short,
I thought the exact same thing....
767
747
737-400


And the fourth? 717, F100, brasilia, Q300/200?

Scripted rubbish.....
 

You had first call, Ross Greenwood, hang your head in shame.......

Why? Because he didn't insist on an answer to his question I hope!

Brasilias I think were mentioned in the blurb.

Some of the Q200s are for sale as a mate was going to look at them.

Guys the Abbott Gov is not to blame they have only been in office for less than a year. The blame lies in house with the management and board of QF

Mr Abbott?
 

Get the union action from where we stand? WTF

Just watching the News Conference (Announcements) now live, AJ still does not seem very happy, poor thing. :rolleyes:

The reporters are asking some tough questions, but at least (it appears) the news is not too bad, could have been a lot worse. :(

Can they both use the term "going forward" a bit more?

ASX loses confidence
 

Normally when a company sack employees the share price goes up....

QAN$1.185

$-0.085 (-6.69%)


The market has lost confidence in the ability of Clifford and BGA and their 'board' to return Qantas to profitability.....

1. Good 1st up question from Ross Greenwood regarding AJ's own position.

Didn't follow up though as AJ talked about how he was committed, bla bla bla.

2. Liked the question from lady who asked why the announcement was held at Sydney's most expensive hotel and not at the new QANTAS campus.

3. Lady asked about the effect on the services to Asia and in particular SIN for pax.
Evans didn't answer the question, just beat around the bush, imo.


Really, the journalists must all have Chairmans Club memberships.

Yep, it's bad, what's worse, no Leigh Sales tonight to grill him,

I was expecting the share price to go up today as well. Investors usually see job slashes as a good thing and hence the share price rises.

Yet at the moment the share price is down 8%. Investors have finally lost faith in Allan? Its time for this idiot and his board to go! :ugh:

787 specifically excluded from future fleet types to be operated by mainline in comments from Gareth Evans :ugh:

someone asked a question about pilot redundancies


through al's question dodging it sounded like a yes

Wish Senator Nick was at the announcement.

Mr Abbott?
 

Mr Abbott, time to play hockey, get him out on the field......

Embarrassing all round – AJ can’t answer a question to save himself. All the money spent in Corporate Comms is so people can write his speeches and lines to repeat over and over. At least Gareth can answer questions a bit better.

First question about AJ’s future – pathetic answer. Swiped away – how he is still there and telling 5000 people you won’t have jobs is mind boggling.

Nice question about the venue for today’s briefing – I thought the idea of building a theatre was to accommodate that number of people. They can all get to Mascot can’t they?

Our leadership (or lack of it) is on display today – no wonder we are in trouble.

The Prix is delusional. It's time to go Joyce.

Dumbest press conference I have ever witnessed.

Almost no questions about holding the board to account for such a shabby management of a company.
No response to Greenwoods question on Joyce's position on the board. No account to poor selection of new aircraft and and poor excuses on financial management.

Opportunities for hard questions were greeted by soft. Were these really journos or ring ins for the conference.?

Daniel Andrews blaming Dennis Napthine for QANTAS job losses in Victoria, too funny!

"Alan Joyce has kicked off his press conference just now, talking about the "unacceptable and unsustainable" performance of Qantas.

Read more: http://www.smh.com.au/business/aviation/qantas-chief-alan-joyce-cuts-5000-jobs-20140227-33j48.html#ixzz2uTfJHvjt"


Can't understand him saying that yet he has been leading the company.
Staff can only do so much with what they have, or haven't got.

If you cut the profitable routes, is it any wonder ?

Qantas Q-day, the big items | Plane Talking

Interesting, I think AJ is going to have a long day when this all sinks in,
uploading the questions at the press conference stand by

Did BGA just say....


"I am responsible for the unacceptable and unsustainable performance of Qantas"

??

Well, he should have!!