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-   -   MERGED: Alan's still not happy...... (https://www.pprune.org/australia-new-zealand-pacific/528014-merged-alans-still-not-happy.html)

ozaggie 21st Mar 2014 15:03

Actually, I'm think I'm smarter than I think. Is that a tautology? Joyce knew what was coming, and did not, nor is doing, anything to defend the company from the onslaught. Because that is not the plan! Wish it were different. Worked for Ansett ground side before I got a real job, and loved it!, but nothing can describe the tragedy we see unfolding here. Pity my country, unfortunately it is endemic with the new order. Slash and burn for profit. Not honing more, nothing less! Good luck to all the folk that will be affected by this assured train wreck.
Pesticide Pat
The Toxic Avenger. ( everybody needs a superhero)

TIMA9X 21st Mar 2014 16:39


I initially thought Mr Andrew Finch (Qantas Counsel) was present to protect Joyce at the senate inquiry.

As a former legal consultant to the APA private equity bid.

I think he was there to protect the plan to achieve foreign ownership.

MC
Interesting, Andrew Finch seemed to be very involved in that part of the business advising M Jackson at that time and I guess AJs old mate Dixon. Weird to see one of Dixons advisers working for BGA all these years later.. :rolleyes:




Freehills partners Baden Furphy and Selina Lightfoot are advising Texas Pacific Group and partners Ewen Crouch and Andrew Finch and senior associate Tom Story from Allens Arthur Robinson are advising Qantas.

Qantas takeover ready to fly | Lawyers Weekly
http://www.acla.com.au/conferences/bios-4/andrew-finch

I wonder if any of the good Senators had thoughts about this before setting them free?

AEROMEDIC
All "hypothetical" thoughts of course.. :)

Sunfish 22nd Mar 2014 04:28

What is quite clear is that private ownership of "65%" of the Australian domestic air travel market is the target of at least one New York Hedge fund. That is why the Board of Qantas travelled to New York a little while ago - to receive their blessing.

Make no mistake, this is the target as is private ownership of the international brand. The poor Qantas shareholders will see the funds received from the hedgies pissed away on Jetstar Asia before the doors are closed on Qantas - the public company.

Meanwhile Qantas private will proceed tor rape the Australian air traveller once again.

Furthermore, knowing a little about hedge funds and venture capitalists it will be a very brave state government who doesn't give them what they want if they wish to receive a decent RPT service. Then of course there is the chance to muscle in on any future resort developments that require an air service....

The possibilities are endless. THe only way to stop it is to open the skies to international competition on domestic routes.

ohallen 22nd Mar 2014 08:00

Perhaps the best way to deal with these guys is to let them put their money on the table, then open the skies to all and sundry so they lose as much as possible. With the proviso that whoever comes in starts employing ex QF workers who do care.

Impress to inflate 22nd Mar 2014 08:55

I "tink" he's a slippery little sh&t and not to be trusted

V-Jet 22nd Mar 2014 10:14

Call me old fashioned if you will, but I would rather have the travelling public in the hands of Steve Purvinas like characters over the Gordon Gekko's of the world.

'Because it's wreckable OK ! I looked at the figures and changed my mind!'
(because I'm incompetent in this case - but that's another story!)

I can't find a video of the quote, but this movie is a) a cracker, and b) right on the QF money.


And another nice vid from the same. Not as good but makes the point:

Sunfish's great point above. Mr Gekko for want of a better name wants to grab the Aussie traveler by the f££%%#ing throat and rip his stomach out.

Nice joke on us- well done Strong, Dixon and Joyce.

TIMA9X 22nd Mar 2014 12:38

Economics Legislation Committee - 18/03/2014 - Qantas Sale Amendment Bill 2014
 
Steve Purvinas








Nathan Safe




RodH 22nd Mar 2014 21:08

I think this sums it all up very well
 
http://pickeringpost.com/kyola/resou...20bastardS.png

Hempy 22nd Mar 2014 22:31

Sunfish, why would Virgin, Tiger etc drop 'fare wars' just because Qantas domestic turns into 'Qantas Private'?

They aren't destroying the airline to create another airline, they are destroying the airline to destroy it full stop.

WorthWhat 23rd Mar 2014 02:49

Not entirely Hempy.


destroying the airline to create another airline
Is indeed what the Swiss did when they created Swiss out of the ashes of Swiss Air.


To find out more about it, interested readers can go to http://www.google.com.au/url?sa=t&rc...X2cky06QHTbzyQ

The Australian consequences of a Project Phoenix need to be better understood before any 'Knights in White Saturn' let the NLP open up Pandora's Box of legislative trinkets.

DirectAnywhere 23rd Mar 2014 03:25

Or Nights in White Satin even...

V-Jet 23rd Mar 2014 04:53

I quite liked the 'Universal' nature of Saturn:)

TIMA9X 23rd Mar 2014 05:05


Is indeed what the Swiss did when they created Swiss out of the ashes of Swiss Air.
WorthWhat thanks for the link, interesting read and there is a connection to Qantas..

Meaney To Lead Swiss Sales Efforts - Business Travel News


January 20, 2003 - 12:00 AM ET
By David Jonas
Swiss International Air Lines began the year with a new chief commercial officer who aims to restore profitability and further improve the premium travel experience. William Meaney, 42, is a managing director in the airline's top management team and responsible for strategy, network, products, services, marketing, sales and cargo. Most recently in senior management at Star Alliance, Meaney now reports directly to Swiss CEO Andre Dosé.

"Swiss is a startup, a turnaround and a merger at the same time, and flies more than 120 aircraft," Meaney said. "That has not been achieved before. I was brought in to take the next step in the commercial portfolio and do it in a fairly difficult environment." The carrier last April launched from the combined remnants of defunct Swissair and regional carrier Crossair.
Which lasted for about a year..


William L. Meaney, the airline's chief financial officer, said that the airline had to direct its efforts "not to what we think the customer wants, but what the market is telling us the customer is willing to pay for."
World Business Briefing - Europe - NYTimes.com



William L. Meaney, 43, Managing Director Commerce and a member of SWISS Executive Management, is to leave the company by mutual agreement. The decision has been taken in the light of differing views on the company’s future management structure.

In the wake of the decision by the SWISS Board of Directors to adopt a new management organisation based on the present three Managing Director positions, William L. Meaney and SWISS have agreed to part company.
The decision has been taken as a result of the parties’ differing views on the company’s future management structure
21.11.2003

He certainly gets around..

WorthWhat 23rd Mar 2014 05:35

Don't know when Mr Meaney was appointed to the Qantas Board, but a closer reading of the above Swiss links suggests he can probably claim responsibility for a number of things going on at Qantas right now, including the planned introduction of the new A330 lie flat seats.

Would like to know more about why Swiss let him go when they did.

FYSTI 23rd Mar 2014 05:54

William L. Meaney ’82 President and Chief Executive Officer
Iron Mountain Group, Inc.



William L. Meaney ’82
President and Chief Executive Officer
Iron Mountain Group, Inc.

William L. Meaney is the president and chief executive officer at Iron Mountain, Inc., a world leader in information management services, assisting more than 156,000 organizations in 35 countries on five continents with storing, protecting and managing their information.
Prior to his appointment at Iron Mountain, Meaney served as chief executive officer at The Zuellig Group, a US $12 billion diversified pan-Asian group based in Hong Kong, whose primary activities include: pharmaceutical distribution; pharmaceutical manufacturing under license; animal feed manufacturing; and agricultural and materials handling equipment.


Prior to Zuellig, Meaney worked in a number of turnaround situations, including: the chief commercial officer at Swiss International Airlines in Zurich; executive vice president at South African Airways in Johannesburg; and the chief executive officer of South African Vaccine Producers, a parastatal pharmaceutical manufacturer based in Johannesburg. Prior to his taking on leadership roles in international groups, he was a strategic consultant with Strategic Planning Associates (now part of Oliver Wyman) based in London and in Geneva where he worked in a variety of industries.


Before beginning his career in business, Meaney served as a CIA operations officer. In addition to being a trustee of Rensselaer, he serves as a director of Qantas Airlines.


He has a B.S. degree in Mechanical Engineering from Rensselaer and an MBA from Carnegie Mellon University in Pittsburg, Pennsylvania. Meaney holds U.S., Swiss, and Irish citizenships.

Hempy 23rd Mar 2014 07:37


Originally Posted by FYSTI (Post 8395517)
William L. Meaney ’82 President and Chief Executive Officer
Iron Mountain Group, Inc.



..Before beginning his career in business, Meaney served as a CIA operations officer. In addition to being a trustee of Rensselaer, he serves as a director of Qantas Airlines...

...Meaney holds U.S., Swiss, and Irish citizenship

Sounds like a 'genuine' sort of bloke :rolleyes:

Mstr Caution 23rd Mar 2014 11:04


Qantas has not taken deliveries of A320's that's not put into service. Jetstar Hong Kong, which we have a minority investment in has taken 9 aircraft that is not put into service because it doesn't yet have regulatory approval. Jayne Hrdlicka 18.3.14

There are sub leases between Qantas and Jetstar in Asia. Gareth Evans 18.3.14

This is Singapore only. Jayne Hrdlicka 18.3.14

We do not lease to any other entities. Gareth Evans 18.3.14

Flight Global Ascend Online Fleet database shows.........that the aircraft are still owned by Qantas and managed by Jetstar Hong Kong. In addition there are a further 9 aircraft on order for JQ Hong Kong, which are also owned by Qantas. Ellis Taylor Flight Global 19.3.14

We have an investment in Jetstar Hong Kong, a fixed investment with the first tranche being $33 million. Jayne Hrdlicka 18.3.14

Jetstar Hong Kong is a three way venture between Qantas, China Eastern Airlines and Hong Kongs Shun Tak Holdings. Each shareholder will commit $66 million to the carriers capitalisation payable as a series of tranches. Ellis Taylor Flight Global 19.3.14
More aircraft ready to be parked & another $33 million to pump into JQ HKG.

SOPS 23rd Mar 2014 11:38

They really seem to have no idea, or they are tying themselves in knots by lying so much, or a bit of both.

Or have they been too clever for their own good, and made the various company structures so complicated, that they actually don't understand what is actually happening anymore.

mmciau 23rd Mar 2014 21:10

Paul Howes to quit AWU. Probably going to run QANTAS with Olivia!

Mstr Caution 23rd Mar 2014 21:18

SOPS

Here's a link to the Flight Global article.

https://login.flightglobal.com/?Retu...dlicka-397166/

I have watched the Senate Inquiry a second time after reading this article.

Gareth Evans quite clearly stated Qantas don't lease aircraft to any other entities other than Jetstar Singapore. This was confirmed by Jetstar Group CEO Jayne Hrdlicka.

So I'm left confused why Ellis Taylor would later write in a Flight Global article. That after checking an online fleet database the JQ Hong Kong Aircraft are actually owned by Qantas.

Are the aircraft not yet leased and owned by Qantas and therefore a cost to Qantas whilst parked?

Are the Qantas owned aircraft leased to JQ Hong Kong therefore making the Senate Inquiry statements incorrect.

Are there other terms by which JQ Hong Kong access the Qantas owned aircraft?

Or is the online paid subscription fleet ownership database incorrect?

Who is financially responsible for the aircraft already ordered and not yet delivered for Jetstar Hong Kong?

Flight Global reports there are 9 more aircraft on order. Is this figure correct?

Has the second tranche payment of $33 Million happened yet? If not when is the second investment payment due?

MC

V-Jet 23rd Mar 2014 21:20

I hesitated to post because some people think it is off topic, but I do (hope not!!) that it has significance. If only as background. SP would know more. My guess is he thought he was too far off the PM's job with too many in front of him. At least the Odious Wirth won't (again hopefully not) be 1st 'lady'. I think I'd even rather Joyce in that role! I don't think Howes is a fool, probably his 'anti AWU' speech was feathering a post Union nest rather than anything untoward politically. I _really_really_ hope he and worthless leave QF alone!!

AWU?s Paul Howes calls it quits


JOE ASTON AND PHILLIP COOREY
The national secretary of the Australian Workers’ Union, Paul Howes, is expected to quit the union movement on Monday, robbing Labor of one its *rising stars and the union movement of a strong advocate for reform.

The union leader has been quietly preparing senior Labor Party and ACTU figures for his resignation, according to ALP sources close to the move.

It is not known what Mr Howes will do next, although he is marrying *Qantas executive Olivia Wirth in April. Mr Howes, who is scheduled to attend an AWU national executive meeting in Perth on Monday, did not respond to The Australian Financial Review’s questions on Sunday.

The Financial Review has been told he had been seeking a job in the corporate sector but it is understood Mr Howes has no immediate plans.

His departure from the trade union movement, with which he has been associated since 1999, is not regarded by those close to him as the end of his *political aspirations.

Only 32 years old, Mr Howes has plenty of time before he needs to enter federal Parliament, should he so wish.

After an aborted tilt at the Senate last year, he had fixed his sights over the longer term on a lower house seat.

Mr Howes replaced Bill Shorten at the helm of the AWU in 2007, when Mr Shorten, now Opposition Leader, entered Parliament.

The AWU’s assistant national secretary, Scott McDine, is expected to succeed Mr Howes as national secretary of the 135,000-member union.

Mr Howes has endured a gruelling past few years and people close to him said he was looking for a change.

It is understood that he has been frustrated at the labour movement’s response to his calls for modernisation.

When Bob Carr quit the Senate *following Labor’s election loss last year, Mr Howes, a key figure in the NSW Right, lost a fight to take the spot. His support for gay marriage and his closeness to the Jewish lobby was used against him internally.

This followed a torrid period for the so-called faceless man who remained loyal to former prime minister Julia *Gillard throughout her leadership *skirmishes with Kevin Rudd.

AWU TARGET OF COMMISSION
When Mr Shorten abandoned Ms Gillard in June last year to help reinstall Mr Rudd as Labor leader and prime minister, relations between Mr Shorten and Mr Howes cooled significantly.

His departure will leave the labour movement without one of its strongest and most outspoken voices.

Ms Wirth also suffered professionally because of her association with Mr Howes, losing her government relations role with Qantas and moving to a senior marketing and branding role for the airline.

Mr Howes leaves the labour movement as the Abbott government is mounting a full-scale assault on trade unions with its royal commission into union corruption.

The AWU is a specific target of the commission because of a slush fund operated by a former boyfriend of Ms Gillard’s more than two decades ago.

Mr Howes has been a fierce critic and opponent of corruption during his years in the movement.

Last year, he called on Labor to support laws proposed by Tony Abbott to bring penalties for corrupt union bosses into line with those of corrupt corporate executives.

Mr Howes is set to shed all his political duties.

It is likely he will resign his position on the Labor Party’s national executive and will step down as vice-president of the Australian Council of Trade Unions. He has also been one of the more progressive thinkers on policy and labour movement reform.

In his speech to the National Press Club in February, he called for a “grand compact” between business and unions. But he was criticised heavily by many on his own side, moreover because of his excoriation of both side of politics for the policy see-saw which industrial relations policy has become. He chipped those in Labor for decrying every Coalition policy utterance as WorkChoices and acknowledged the current Fair Work Act had resulted in unsustainable wages growth in some sectors, such as offshore oil and gas.

His departure comes more as a shock given the speech was regarded as Mr Howes setting sights politically as a reformer. He is a non-executive director and deputy chairman of the country’s largest industry superannuation fund AustralianSuper.

Mr Howes writes a regular column for the Financial Review.
Re the Jet* leases. I am 'convinced' Qf are paying for the leases (as I guess most are) but I am equally certain that Qf will have a large array of possibilities for answering Sen Xen's 'on notice' question as to how much the storage/leasing is costing. I can't see themselves being dumb enough to leave a simple thing like that open to hang them. They have not closed any doors on that answer with their 'answers' so far... I was stunned at Joyce's audacity to say 'he didn't know' when clearly the CEO should be on top of such painful losses and the reasons they are worth enduring. It was (as usual) a cunning dance around the topic by minions and Joyce. A sickening display of why the place is in the state it is.

Sunfish 23rd Mar 2014 22:17

If Howe runs true to form like so many other former union creeps, he will go to work for Qantas.

Captain Gidday 24th Mar 2014 01:39


If Howe runs true to form like so many other former union creeps, he will go to work for Qantas.
It became so common, back in the day, Qantas staff had a song about it, sung to the tune of "The Red Flag".
Part of it went:

"The working class can kiss my a***,
I've found a Qantas job at last". :)

Capt Claret 24th Mar 2014 01:51

Just a little thread drift as the union bashing comes in.

Spare a thought for poor Arthur. Icon of the Liberal Right. Earning a paltry $200k for 100 hours work. And it's unions and workers who are blamed for all economic ills. :ugh:

http://susanohanian.org/nclb_cartoons/greed.jpg

TIMA9X 24th Mar 2014 03:44

or



all together now, well that was back in 1973, :)

Now the landscape has changed to big business & government, the employees are at their mercy.


cattletruck 24th Mar 2014 07:30

I wouldn't be surprised if Olivia has already created a position for Howes in Qantas.

BTW, would anyone know if Paul Howes is related to Mark Howes HR Director (might be former) of Ericsson Australia? I may have something of interest to post.

V-Jet 24th Mar 2014 09:45

Paul Howes was sued by his step father for (among other things) 'political grandstanding' in a Women's Weekly article. It was settled. Gary Howes is in mining and an ex Policeman. His real father I know not of.

Either Howes is leaving a sinking ship (AWU) for fear of what might come out in a Royal Commission (and I'm led to believe if he isn't living in Australia he doesn't have to testify) to run away, wait for the chance to jump back in as an ALP White Knight or some other opportunity.

Given Livvie's rumoured $1m salary (could I be more proud to work for Qantas!) he could spend his life playing bingo at the local pub and still struggle by better than most/all of us.

I sincerely hope any other opportunity doesn't involve his invaluable skills in Employee Relations at Qantas with that horrid and totally out of her depth Wirthless.

I would hope it's impossible, but every time I write something off as being too wrong to happen, in Qf's case, I am constantly disappointed.

The Bullwinkle 24th Mar 2014 09:58


I wouldn't be surprised if Olivia has already created a position for Howes in Qantas.
I'm sure she has an opening for him! ;)

Transition Layer 24th Mar 2014 11:08

Is it just me, or is Paul Howes looking terribly aged for 32? One article I read said he's burnt out, no conspiracies - I would believe it.

Does that make Olivia Wirth a cougar? She'd be pushing 40 wouldn't she? :eek:

Capt Quentin McHale 24th Mar 2014 11:11

TIMA9X,
A big thankyou for posting the Senate enquiry vids. Have just finished watching them and am a bit perplexed by that little cretin boasting about safety is our 1st priority, our safety record is the envy of airlines the world over, the unions are scaremongering by pulling the old safety card etc, etc, etc.
Nobody has asked that little cretin who actually built our enviable safety record to what it is today. I can only think of 2 departments who did this... Flt ops and Engineering.
Now he wants to offshore a great wack of maintenance and dumb down whats left back here. GOD HELP QANTAS AND ALL WHO SAIL IN HER...


McHale.

Boe787 24th Mar 2014 12:01

I am sure anyone who watched George Pell give evidence today at the child abuse commission, noticed the similarity to Alan Joyce,as we had yet another leader responding to questions,with, "I cant recall" etc etc.................followed by 4 corners and the non appearance of the leaders of 2 australian art galleries...................whose oversight was sadly lacking in relation to the purchase of what appear to be stolen pieces of art, one to the tune of 5 million dollars of tax payers money!

We must all be grateful for the quality and accountability of leadership we have in this country!!

Chronic Snoozer 24th Mar 2014 14:54

Paraphrasing that famous scene.....(sick of the 'Der Untergang' one)

We use words like airmanship, safety. We use these words as the backbone of a life spent flying for this airline. You use them as a punchline. I have neither the time nor the inclination to explain myself to a CEO who rises and sleeps under the blanket of the very safety that I provide, and then questions the cost of providing it.

scrubba 25th Mar 2014 01:37

Isn't that the truth...
 
Chronic Snoozer,

Perfect :ok: :ok: :ok:

Capt Quentin McHale 25th Mar 2014 01:38

Hempy and Snoozer,


Hear, hear. http://www.pprune.org/images/infopop/icons/icon14.gif :D


McHale.

tail wheel 25th Mar 2014 01:53

Dissenting Report by Nick Xenophon, Independent Senator for South Australia ? Parliament of Australia

Shark Patrol 25th Mar 2014 02:58

Senator X deserves a medal for maintaining his integrity and rationality despite his continuous exposure to the ignorance and ego-driven bullsh*t that passes itself off as 'party politics' in our Federal capital. Sadly, his criticisms of Joyce's 'management' of Qantas will probably be seen as bias by AJ's mates in the (Chairman's Lounge) political right, and his call for a review of the mindless Open Skies Policy may well take too long to save the Roo from continued capacity-dumping in the domestic aviation market or the Leprechaun's next effort at Orange Asian expansion.

As I approach my more mature years, I have become increasingly disillusioned with the farce that passes itself off as national governance in Canberra. As evidenced by the recent Senate hearings, many politicians lack the knowledge to be able to competently tackle complex issues, with some not even being diligent enough to read the expert submissions of those like Steve P who are in a position to explain the issues for them. Instead, we are subjected to grandstanding bullies like Senator Evans, to whom anything other than 'blue ribbon Liberal policies' are like a red flag to a bull. A political career nowadays seems to represent nothing more than an opportunity to provide favours for one's preferred interest groups prior to retiring from Canberra and cashing in on those favours.

The one exception to the above comments, in my opinion, is Senator Nick Xenophon, who is obviously highly intelligent and seems to be generally concerned with the welfare of the nation's population that he serves. If only we could clone him about 200 times, abolish all political parties and let proposals stand or fall in Parliament on their merits, rather than through the 'mine's bigger than yours' approach of current party politics. Unfortunately, Nick seems to be unique and the only options offered as alternatives to the entrenched political parties are redneck miner's or fish-and-chips shop owners from the North.

To Senator Xenophon I would say, congratulations on your unwavering efforts to improve the level of informed political debate in this country and long may you keep the bastards honest!

limelight 25th Mar 2014 03:57

Shark Patrol.
Well said indeed, but instead of seeing despair, there may well be another solution.

If the motorists party can get someone into the senate, why cannot the aviation sector do the same, in all states?

There is 2 years to get suitable candidates, and mobilise.

Give Nick some company.

ALAEA Fed Sec 25th Mar 2014 04:02

No surprises in this lot -


Report ? Parliament of Australia


LNP recommend Bill be passed by Senate.


ALP/GRN/SENX recommend it be rejected.

TIMA9X 25th Mar 2014 06:22


To Senator Xenophon I would say, congratulations on your unwavering efforts to improve the level of informed political debate in this country and long may you keep the bastards honest!
Well said... :ok:

Nick X said..

1.1 The views in this Dissenting Report can be summarised as follows:
a. Qantas is in a crisis largely of its own making, due to its failed foray into Asia with its Jetstar Asian operations;
b. Current Australian accounting rules do not prevent cost-shifting from one part or entity of a group to another;
c. It appears that CEO Mr Alan Joyce, the Chairman Mr Leigh Clifford and the Board have lurched from one failed strategy to another;

1.2 At the outset, I believe it is vital to place this bill in its proper context.
Qantas has been struggling as a business since at least 2009[1], and there has yet to be any substantial improvement. My strong view is that before the government takes any action to alter the current legislative environment or to offer any other assistance we need to have a full understanding of the reasons behind Qantas' difficulties.
Any measures put in place without this understanding may end up being merely a costly band-aid solution, or even no solution at all.

1.3 I have said publicly that I have serious concerns about the management of Qantas, and in particular about decisions made by Mr Joyce and members of the Board, and in particular the Chairman Mr Leigh Clifford, in relation to the future
of the company. I note that others, including the government, have said this is a matter for shareholders; however, if the government is considering taking action to assist Qantas, then clearly this becomes a matter for the government and for the people of Australia, on whose behalf the government is acting.

1.4 The issues relating to Qantas' management strategy are many and complex. Australian accounting standards and the structure of the Qantas Group mean it is often difficult to get a full understanding of its financial operations. I hope this will be addressed in greater detail through the current Senate Rural and Regional Affairs and Transport Committee's inquiry into Qantas' future as a strong national carrier supporting jobs in Australia.

1.5 In particular, my concerns centre around the apparent focus on the Jetstar brand at the expense of Qantas. This includes the rapid growth of the Jetstar fleet
(now estimated to be nearly 60 per cent the size of Qantas' fleet) and suggestions of cost-shifting between the arms of the business to make Jetstar appear more profitable, and Qantas International less so. I note that under current Australian accounting and corporate governance rules, this level of cost-shifting within group accounts is permissible.

1.6 Tied in with this is the establishment of the Jetstar brands in Asia, and in particular Jetstar Hong Kong, which has not yet received regulatory approval
to operate. This has resulted in the airline's nine Airbus planes being stranded in France and unable to fly, at an estimated cost of $3 million a month.[2] There are also questions regarding leasing arrangements between Jetstar in Asia and the Qantas Group, and whether they are structured so as to deliver a profit to the Asian carriers. In a hearing for the Senate Rural and Regional Affairs and Transport Committee,

It is the carrier's first net loss since it was privatised in July 1995, having previously slipped into the red in 1993. Qantas shares closed down 26.5 cents or 18.6 per cent, wiping more than $600 million from its market capitalisation of $3.2 billion Cookies must be enabled. | The Australian
After today's close,

https://lh3.googleusercontent.com/-f...an-25-3-14.JPG


About a billion dollars down since June 2012 and we won't know how much more until the next reporting period which traditionally is the slower half, ... Nick X is right on the money unlike the Liberals who in my view have been hoodwinked by the Qantas management team. I think Nick X made the Liberals look like fools with no talent, they have completely misunderstood the entire situation at Qantas created by the management themselves..
(To be fair the Labor Senators did a good job with many of their questions)


As I approach my more mature years, I have become increasingly disillusioned with the farce that passes itself off as national governance in Canberra. As evidenced by the recent Senate hearings, many politicians lack the knowledge to be able to competently tackle complex issues,
I have come to the same conclusion after watching this again, playlist here for the convenience of those who haven't seen it.


Arnold E 25th Mar 2014 08:03


unlike the Liberals who in my view have been hoodwinked
Hoodwinked? or bought off?


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