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Well, I'd like to know WHEN Joyce met with the major shareholders and what the minutes of those meetings were.
It seems to me that disclosure of such information should be available to ALL shareholders, not just a few. |
Ok, I know I'm not on the scene so to speak, so I could be wrong. However, what I find strange is that after announcing the latest crisis a few weeks ago, Joyce has basically gone to ground,
I would have expected him to be out the front, announcing stuff....new routes..new fleet..plans...something. Motivating the troops, meeting people on the front like, anything. But, it seems to me he is doing next to nothing. Am I right, or am I wrong? |
SOPS, I was saying the same thing yesterday at work, I would have assumed that 'knowing' the Group is in a fire situation surely you would have a plan. The fact that we have heard nothing along the lines if fleet/route/staff changes since the loss announcement tells me they either aren't in the trouble they say or they are clueless as to how to get out of it. :ugh:
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Or they're stashing money offshore ready to do a runner before they get held to account.
You'd think a company in this situation right now would be announcing new aircraft, reinvigoration of the brand, advertising, routes etc rather the job cuts, cost cutting, downsizing and media stunts. |
Alan Joyce and his board know diddly squat about running an airline, all they know is how to fudge the numbers, which works ok when everything is rosy but becomes a house of cards when real issues interfere.
The only progress Alan Joyce and his board have acheived is opening up wounds for the flesh of Qantas to be devoured. It also looks like the 5000 jobs figure was just an executive bluff that has backfired. It takes a real lack of talent to destroy an Australian icon that has so many advantages going for it. Alan Joyce and his board are incompetent business men and women - it really is that simple. |
I could not agree more about the 5000 job number. With every passing day, I am more and more convinced that it was a huge bluff, that Tony Abbott called. And now Joyce has no idea where to turn. I certainly don't think he has any real, constructive ideas about fixing the airline and it's problems. Trouble is, I think most of the so called problems, have been caused by Joyce and his mates in the first place. And this guy gets how much a year?:ugh::ugh:
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So SOPS, as you read and comment on this, are you still sending PMs to people telling them to 'Have a big think' when they consider other options?
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Guys, Qantas is not a loss maker if you can buy it cheap enough. This was my big lesson from the "recession we had to have" if you can buy a distressed business for cents in the dollar, renegotiate employment and other contracts as part or a bankruptcy or receivership, you can make a killing.
My own view is that Qantas is deliberately in a loss making situation as depicted by the accounts as the powers that be correctly know that there is no independent forensic aviation accounting capability in Australia. That means that Qantas can do what it likes with provisions and allocations and will of course no doubt be perfectly within the law. Andrew Sisson has it right: buy it, turf out the Board and management and go through it with a new broom. His opponents of course want to do the same thing, preferably in private. Make no mistake 65% of the Australian domestic market plus the infrastructure is very valuable. I fail to understand how the current Qantas strategy is going to do anything to maximise shareholder value in the long term, and their litany of failures makes me wonder if this is deliberate although I am sure it is all perfectly legal...or I was until the resignation of the company secretary and his assistant. Translation: Could I be forgiven for wondering if something stinks at Qantas and it has been that way since at least a few years before the APA bid? |
And don't forget the new Company Secretary was a consultant on the APA bid.
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SOPS
Yes, he's been busy. New routes BNE to Port Macquarie, JQ to HNL from BNE, changes to the FF scheme, MEL to Coffs - all intended to make QF profitable again! Sarcasm switch off now! |
Just heard an interview with Sen X in which he stated he shares very similar views to Clive Palmer on Qantas 'in particular'.
Not a PUP fan, even less Clive, but that was a promising statement. |
Agree with Sunfish,
Qantas domestic is certainly very valuable! Even with the Qantas groups 300 million overall loss in the latest period, domestic still made money! |
Make no mistake 65% of the Australian domestic market plus the infrastructure is very valuable. I fail to understand how the current Qantas strategy is going to do anything to maximise shareholder value in the long term, and their litany of failures makes me wonder if this is deliberate although I am sure it is all perfectly legal...or I was until the resignation of the company secretary and his assistant. Translation: Could I be forgiven for wondering if something stinks at Qantas and it has been that way since at least a few years before the APA bid? |
Sunfish, I am happy to see that someone is thinking the right way. I totally agree with you, what is happening with Qantas is deliberate. Why should Qf pay everything more than the others ? what they are doing is applying a business strategy that many other airlines overseas already did. Everything is wrong with Qf.... even just travelling with an infant... For a trip to LA Qf charges you around $800 calling it airport taxes while all the others charge you about $120. The management wants to turn passengers away.
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lan Joyce and his board know diddly squat about running an airline, all they know is how to fudge the numbers There may be none, it not even be important but gee at QF !!! |
QF1 cancellations for May, DXB-LHR, 8th, 13th, 14th, 20th and 29th
QF10 cancellations for May LHR-DXB, 7th, 12th, 13th, 19th and 28th Due to 'very soft' commercial demand. Looks like 380's to commence DFW flying later in the year. |
Quote: Make no mistake 65% of the Australian domestic market plus the infrastructure is very valuable. I fail to understand how the current Qantas strategy is going to do anything to maximise shareholder value in the long term, and their litany of failures makes me wonder if this is deliberate although I am sure it is all perfectly legal...or I was until the resignation of the company secretary and his assistant. Translation: Could I be forgiven for wondering if something stinks at Qantas and it has been that way since at least a few years before the APA bid? Or to put that another way, "are the birds coming home to roost?" Shall never be belov'd by men. |
Make no mistake 65% of the Australian domestic market plus the infrastructure is very valuable. I fail to understand how the current Qantas strategy is going to do anything to maximise shareholder value in the long term, and their litany of failures makes me wonder if this is deliberate although I am sure it is all perfectly legal...or I was until the resignation of the company secretary and his assistant. I think the QF management has run out of options by losing track of the deliberate but legal cost shifting within the group, other words, the music has stopped, opening up a possible last chance escape plan, set up for a takeover bid, which will reward the current management with a payout on exit leaving the new incoming management team to sort out what's left, which for me is in line with what Sunfish has already said.. by MC: And don't forget the new Company Secretary was a consultant on the APA bid 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 |
Unless they use an EK long range version forget the big bus to DFW.
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Who is this Franklin mob from the US and why do they keep buying up all the QAN shares? What value do they see in QAN?
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From today's SMH
Qantas has cancelled three return A380 flights next month between its new overseas hub in Dubai and London due to weak demand ahead of the peak travel season in the northern hemisphere. The temporary reduction in services follows its decision to cancel three return superjumbo flights from Melbourne to London via Dubai in February and March, citing a slowdown in demand during the northern winter. Fares for flights to Europe remain at historical lows in real terms due to stiff competition between airlines. Qantas began flying via Dubai to Europe – instead of via Singapore – in March last year when it launched its extensive alliance with Middle Eastern airline Emirates. As part of the latest changes, Qantas has cancelled the QF10 service from London's Heathrow Airport to Dubai on May 12, 19 and 28, as well as the QF1 flight from Dubai to the UK capital on May 13, 20 and 29. Passengers with existing bookings on QF1 and QF10 on those dates will be put onto the other daily Qantas flight between the two cities, or onto Emirates services if required. Qantas' head of international sales, Stephen Thompson, said it was common for airlines to reduce the number of flights on some routes during quieter parts of the year. ''What the market will notice is Qantas International becoming more commercially nimble, which is a reflection of the ultra-competitive environment we're in,'' he said. Mr Thompson said Qantas would be using larger, or smaller aircraft, on routes in response to demand. Daily double Some observers have questioned whether Qantas will maintain double daily flights between Dubai and London in the longer term because many passengers catch connecting Emirates services to continental Europe. But Qantas said it remained committed to maintaining its two daily services to London. Qantas will also slightly reduce its flying on the Sydney-Johannesburg and Sydney-Shangahi routes next May due to weak demand. A travel agent, who wanted to remain anonymous, said demand for flights to Europe had been poor across the market, resulting in the lowest fares he had seen in his 30 years in the business. ''The airlines are trying to drive activity but it is very challenging,'' he said. ''In May you are heading into the high season [for travel to Europe]. I don't think this is just Qantas – you are seeing it across the board.'' European bypass Competition on routes between Australia and Europe has been intense, and will claim another scalp next month when Richard Branson's Virgin Atlantic stops flying to Sydney. Its permanent departure will leave British Airways as the last European airline to fly to Australia. Travel group Flight Centre said headline return fares for off-peak travel to Europe were priced at between $1500 and $1600, which was virtually unchanged on last year. The travel company said the cost of tickets had fallen significantly over the last decade in real terms. A return ticket to London in April is selling for $1599, compared with $1539 a decade ago, despite inflation of about 2.8 per cent per annum over the period. A Flight Centre spokesman said May was typically ''starting to get into the busy'' period for travel to Europe, ahead of the peak summer months of July and August. Qantas has declined to give an insight into the financial performance of the Emirates alliance. When the deal was announced in 2012, analysts had estimated that the value to Qantas of a code-share alliance with Emirates at as much as $90 million a year in pre-tax earnings. The latest government statistics show Qantas filled almost 88 per cent of the seats on flights between London and Australia in January. Last May, the airline filled almost 64 per cent of the seats on flights from London to Australia via Dubai, while on the outbound leg it had almost 86 per cent of seats occupied. The statistics do not reveal what Qantas charged for the flights. Read more: Qantas cuts back London flights What a muppet. Has he even had a good look at the fleet lately (or lack of it?) |
They are opportunists , they buy the stock to make things look promising, as the momentum picks up and people start following like sheep they start selling their holdings making millions without having to run the airline.
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Chris 2303
You talking about Dixon's 'old technology'? |
This release confirms that QF has lost the plot - the alleged flag-ship route, via DBX, under performing (recent company announcements for the anniversary of EQ tie up said if was performing great guns)
and company (executive) comments that QF has other fleet options, WTF....!!! |
QF cancels some of its London services due low demand?
Is it anything to do with EK increasing capacity to London Gatwick by 36% from the end of March 2014. How's the alliance working for you AJ? Emirates To Operate A380 On London Gatwick Route » Gulf Business |
Also coincides with Qatar increasing capacity out of Melbourne by 76 seats a day by using a larger "old technology" aircraft. Yeah, real weak demand.
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Also coincides with Qatar increasing capacity out of Melbourne by 76 seats a day by using a larger "old technology" aircraft. Yeah, real weak demand. |
Ken Borough:
They may be increasing their capacity but are they filling it and, if so, how? I suggest that they are cutting fares and diluting revenue. Herein is one of Qantas' major problems: the Australian Govt has allowed foreign carriers almost unfettered access to the Australian market with a detrimental impact on Australian carriers. Like, how many Australians want to travel to the UAE, and how many UAE residents visit Australia to spend their hard (?) earned? Is anyone able to demonstrate what these carriers really do for Australia? Every other sector of the Australian economy is told, exhorted, cajoled and whipped with the "world competitive" cat of Nine tails by every State and the Federal Government and you say "but Qantas should be treated differently????" Are you for real????? You hypocrit! Of course even Qantas itself talks about "world competitive" when it suits them. Like when they are shipping their engineering offshore and employing cut rate New Zealand and Asian staff. "we have to be world competitive you know!" Look at our farmers, miners and now our manufacturers. They have world prices rammed down their throats every day of the week, but somehow Qantas wants to be allowed to charge a premium for being "Australian"???? To put that another way, Qantas has bled the Australian travelling public dry for Forty years by taking advantage of geography and regulated markets. Toughen up, Princess, or dry up and blow away and leave us in peace. You and your holier than thou attitudes make me sick. As far as I am concerned Qantas can retreat to Sydney and curl up and die of AIDS (acquired irrelevance disease syndrome). The more foreign carriers offering direct flights out of capitall cities other than Sydney, the better I like it. Off to NZ at easter and it won't be on QF, I didn't even bother to look at their website. Ill plan my trip to Europe after that, and it will most probably start with a direct flight to Singapore - anything but Qantas. |
Hey, Sunfish! Why don't you tell us what you really think? And by the sound of things, something's happened to you that's attributable to Qantas.
What a shame you write as you do as you seem to be such a happy soul. Personal abuse in which you indulge reflects more on you than me: attack my POV by all means but don't get personal as that line of attack weakens your argument and demeans you. :}. |
Sunfish: Off to NZ at easter. |
thanks for your Ad Hominem Ken, but the fact remains that ALL of Australias economy ( including Qantas) has to be world competitive and if Qantas is not profitable at going rates then it deserves to go under.
Wanaka? yes. |
Anytime time Sunfish but you did invite a riposte as a result of your personal attack. It's not nice is it? Best is to always play fair before the Match Review Panel intervenes. :ok:
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Gosh Ken, you were trolling and I didn't realize....
Next you are going to propose that all airfares out of Australia are to be regulated by Government to ensure they are "fair" to Qantas, right? The fact is Ken that no one knows if Qantas are just making up numbers or pulling them out of Alans arse. . and what would Qantas do if it was allowed to make a "modest" return? Shove the money down some Chinese rabbit hole? Sink or swim, I say. |
Winding Down......
What is well and truly underway is corporate chemotherapy. The icon is being brought to its knees, poisoned if you will, to ultimately save and cleanse itself of 'legacy'. If your lucky, or unlucky enough (depending on how you look at it), to be identified as a keeper cell, then be prepared to lube up before work each and every day for the rest of your career.
That's the best one can hope for, because if a takeover blows through, it will be off to the wreckers for all and sundry, stripped bare and resigned to history.......Ah, the way of the world..... |
Wanaka? yes. Back to the topic |
be prepared to lube up before work each and every day for the rest of your career. That's the best one can hope for |
are they filling it and, if so, how? I suggest that they are cutting fares and diluting revenue. Herein is one of Qantas' major problems: - because QF were the cheapest. I'd suggest it has more to do with QR flying the right aircraft (amongst other things. Not all of which are under QF managment control, but many of them are)- not that QF would care.....old technology and all that. |
Well, here we are, the thread's just hit 900,000, Sunfish is off to New Zealand, still won't fly Qantas "Sink or swim," and Ken is winding up the spring for his next post.
Now, if we could convert all this energy into avgas then I guess Alan would be happy again and this thread won't hit 1,000,000.. Somehow, I think it will surpass all expectations making 1,000,000 hits look like a small figure going by Elaine's current form. :rolleyes: Meanwhile, QF cancels some of its London services due low demand which I think is another first for Elaine and his team, which says to me Acute Instinct has a good point with What is well and truly underway is corporate chemotherapy. The icon is being brought to its knees, poisoned if you will, to ultimately save and cleanse itself of 'legacy' For the record, I was a big supporter of Ansett before it went under, was furious about the way the whole thing was handled and did all I could at that time to stop it. In those days social media was a pup so there was not much anyone could do to get the message out to the masses, all I could do was what a lot of my friends did, wrote to MP's, newspapers etc in the end to no avail as we all know. Sunfish, I saw many Ansett friends lose their jobs first hand, as you did, I felt their pain, still do sometimes, but I never disliked the Qantas operational staff, they always served me well for more than 40 years, it's the Q management style that has got up my nose since the Dixon/Joyce combo years but still by current world standards Qantas is a great airline. As I see it, Elaine & his team are all about themselves and have completely lost sight of what Qantas stands for in this country, done their level best to chase away loyal customers by making poor business decisions in their quest to manage what became a fused two brand LCC model which has consumed any logic they may have started out with. So what do they do? Blame everything on market conditions or someone else for the bad decisions they have made themselves all along, the writing is on the wall now for everyone to see. As another day goes by I believe more and more people are becoming aware of the management problems at Qantas. You only have to google Qantas news stories over the last twelve months to see this for yourself, the press have turned on Elaine and his crew. Sure the odd puff story gets through the net, normally by the usual suspects, but even they are much less frequent than they used to be, the words out. Sunfish, I think I am pretty safe in saying, no one (that I know anyway) at Qantas on the operational side of the business were happy about what happened at Ansett, just like me and everyone else at the time, were helpless to do anything about it. Having said that, Sunfish, you are a great contributor to this thread and pprune in general, most of what you write is great stuff and on the money, which I thank you for, you have a wonderful grasp of Australia's aviation industry, which inspired the video below (not mine) from one of your recent posts, testimony that there are more people out there who also care about the current situation at Qantas. :ok: . . |
Sunfish,
What's going on? I look out for your posts, but prefer it when you stick to forecasts and predictions. They've worked so well in the past. Come back to us Old Sunny. |
International carriers have increased their ASKs to Aus but they are not even keeping up with the increase in demand. Figures were all laid out in our Senate submission.
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