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Clifford gone/ Goyder Next Chairman
From the SMH:
https://www.smh.com.au/business/comp...28-p4zoaj.html |
Hopefully QF isn't planning an entry into UK market
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^^ sausage before each flight - cant go wrong.
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Originally Posted by Kranz
(Post 10183353)
^^ sausage before each flight - cant go wrong.
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Oh god, I hope Clifford doesnt want or become the CEO of VA................
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Another Aviation Novice...Means Alan can continue to lie. Bunnings entrance into the UK was a bloody disaster! Well done Richard. Good time for Leigh to leave with 75% Debt to Debt plus Equity(the worst in Qantas' history) and an old fleet plus all the aircraft coming onto the Balance Sheet. I would be leaving too!
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May be this bloke will talk to the staff at the coal face and find out what they firstly think of management and secondly what a sh#t fight it is out there with inadequate staff, aircraft, spares, etc etc. |
Title below photo of AJ ...." Mr Goyder will choose Alan Joyce's replacement "
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Today they will announce 737 off east coast Perth to be replaced by 330 and 330 on Honolulu to 747 start September. Why? No 737 crews. First 747 to go in October. Oh yea. |
Whoops, lucky it’s a rumour site, 747 to Perth. |
Originally Posted by dragon man
(Post 10184106)
747 to Perth. |
Why? No 737 crews |
Originally Posted by Busdriver007
75% Debt to Debt plus Equity(the worst in Qantas' history)
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Originally Posted by Transition Layer
(Post 10184300)
With negotiations underway it’s a perfect chance for the company to improve the Short Haul Award and stem the mass exodus off the 737. |
Originally Posted by T-Vasis
(Post 10184377)
Qantas debt relative to capital is ~45%, which is fine (under 50), and the debt-to-equity ratio is 1.3, which is also fine (under 2). Optimised capital structure in my view...
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Originally Posted by bddbism
(Post 10184800)
Why the mass exodus? Overworked? They won't fix anything though.... |
Originally Posted by Street garbage
(Post 10184808)
No, just a crap awards to work under, if the Company "seriously" (LOL) wanted to reduce training costs they would fix the award, items like MDC, sick leave provisions, superannuation etc etc. Superannuation is the reason why a lot have left to go to Long Haul.
They won't fix anything though.... |
Originally Posted by T-Vasis
(Post 10184377)
Qantas debt relative to capital is ~45%, which is fine (under 50), and the debt-to-equity ratio is 1.3, which is also fine (under 2). Optimised capital structure in my view...
Exactly why the genius in fort Fumble spent AUD $1.75 billion on share buy backs when a new fleet was desperately needed. For what it is worth, DE ratios in the aviation industry are on average a lot higher than 50%... Good riddance. For the long suffering staff left at Qantas the forlorn hope is that the next on the conga line in Corporate Australia has a little less ideological drive and a little more humanity. Given the recent disaster in the UK, one may hope he pays a little closer attention to the wanderings of little Napoleon than he did with hardware. |
Originally Posted by bddbism
(Post 10184800)
Why the mass exodus? Overworked? A slightly more reasonable award and things might change and you’d get more F/Os waiting it out for a command, but instead they’ll sit it out in long haul while their number comes up. This then places a huge strain on training with a lot of seat swapping going on between 737 and 330 at present. |
Originally Posted by Rated De
(Post 10184882)
Exactly why the genius in fort Fumble spent AUD $1.75 billion on share buy backs when a new fleet was desperately needed.
Short term goals to worry about, the airline doesn't matter. |
The scuttlebutt around Fort Fumble is the 787 is giving them 8% better economics than budgeted for, just imagine if these idiots had 50 of them now and had started deliveries 10 years ago. |
Originally Posted by Dee Vee
(Post 10185448)
AJ's share options vest soon, he can push out the fleet upgrade, before departing with a golden handshake, and more millions from selling off his inflated price shares, as a departing gesture.
Short term goals to worry about, the airline doesn't matter. The timing of the option vesting date(all granted when Qantas was 'terminal') is a key insight: The 'transformation' date was easy enough to work out, just look at the vesting dates. FY15! When one deconstructs the 'turnaround' profit it breaks down to $326 million of depreciation (from the biggest loss year FY14- write down of International fleet) and $597 million in fuel savings courtesy of Saudi Arabia. The rest was chump change. The transformation was as manufactured as the terminal.. Lacking any Corporate Regulatory oversight saw these robber barons pull off a heist and the authorities looked the other way; Sadly just like the Banks have proven, Australia's regulators are pathetic. A Regulator with any insight into nefarious activity would be asking lots of questions.. Qantas need a new fleet |
AUD $1.75 billion on share buy backs when a new fleet was desperately needed Shareholders are only accepting to a lack of returns i.e. dividends or share repurchases if they earn capital growth, which, is determined by the share price, and that has been a fluctuating journey. It then depends on what Qantas does with those shares once they have repurchased them i.e. retire them, or use them for internal bonuses (as non-award staff are on share / cash incentive plans). |
Originally Posted by T-Vasis
(Post 10185520)
Qantas probably took this path to bump up EPS (which benefits investors and themselves), as well as drive an increase in the share price (less shares in the market + it sends a signal that the stock is undervalued, and / or management have confidence in the company). It's also a preferred method over dividends for various reasons.
Shareholders are only accepting to a lack of returns i.e. dividends or share repurchases if they earn capital growth, which, is determined by the share price, and that has been a fluctuating journey. It then depends on what Qantas does with those shares once they have repurchased them i.e. retire them, or use them for internal bonuses (as non-award staff are on share / cash incentive plans). However Forbes magazine suggests a different motivation. https://www.forbes.com/sites/stevede.../#5e5573e13346 They hit upon a magic shortcut: why bother to create new value for shareholders? Why not simply extract value that the organization had already accumulated and transfer it directly to shareholders (including themselves) by way of buying back their own shares? By reducing the number of shares, firms could, as a result of simple mathematics, boost their earnings per share. The result was usually a bump in the stock price—and short-term shareholder value.Of course, by diverting important resources to boost the stock price, the tactic ran the risk of further hindering the firm’s capacity to innovate and generate fresh value for customers in future. But why worry about that? With luck, by the time it became apparent that the firm had undermined its long-term capacity to add real value to customers, the executives responsible for the decisions would be safely retired, with bonuses already paid. The loss of capacity to create value would be someone else’s problem. |
Maybe some of Qantas's creative accounting is about to be undone.
Accounting changes for leases Then from July 1, 2019, Australia will join an international movement captured by AASB 16 that requires lease exposures to be recognised for the first time, eliminating a quirk of accounting that famously caused Sir David Tweedie, former chairman of the body governing international standards, to remark that his lifelong ambition was to fly in a plane that existed on an airline's balance sheet. |
QAN already discloses its net debt figure that is inclusive of off balance sheet operating leases of about $2.1b. They're reflected on the P&L on a straight line basis. If you think the market or analysts are going to suddenly get excited by AASB 16, I think you're going to be disappointed.
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And Jetstar’s leasing arrangements? Care to comment on what’s presently going on there Reality ? |
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Today’s AFR, Clifford pissing in his own pocket. Leigh Clifford: "I'll be judged by how the community and the market views the capability and success of the CEO that I appointed - and I reckon I get a tick on that regard." Louie Douvis He might think so as do the people in the circles that he mix’s in, however from where I sit at the pointy end and the people I see in Qantas at the coal face we all think you and CEO were and are a disaster. POQ please. |
Originally Posted by dragon man
(Post 10287508)
Today’s AFR, Clifford pissing in his own pocket. Leigh Clifford: "I'll be judged by how the community and the market views the capability and success of the CEO that I appointed - and I reckon I get a tick on that regard." Louie Douvis He might think so as do the people in the circles that he mix’s in, however from where I sit at the pointy end and the people I see in Qantas at the coal face we all think you and CEO were and are a disaster. POQ please. |
Trust? From the coalface workers ? What little was left after the lockout evaporated with the Bonus that wasn't.
You only have to read the results from the recently released (dis)engagement survey to confirm that. |
Goyder won’t do much. Responsible for the Bunnings UK disaster, and the fact he had zero idea that the Target Accounting scandal was playing out under his watch shows how little control he had over at WES. |
Originally Posted by wheels_down
(Post 10288236)
Goyder won’t do much. Responsible for the Bunnings UK disaster, and the fact he had zero idea that the Target Accounting scandal was playing out under his watch shows how little control he had over at WES. He might just do enough to keep you bunch of disrespectful clowns in a job. It never ceases to amaze me why, if you hate the organisation so much, you don’t resign and go and work for an organisation where your obviously hidden talents would be appreciated. Maybe Cathay and Emirates would be a good start. |
Wombat...I think you’ll find no one hates Qantas at all. Most people I know have had to endure a decade or more of pointless corporate rape of what used to be one for worlds great airlines. Absolutely none of what has been done at QF was necessary to keep the company doors open, it was all done to line the pockets of an elite few. if you’re happy to stand by while the company is allowed to decay, perhaps it is you who should head overseas. |
Originally Posted by Blitzkrieger
(Post 10288262)
Wombat...I think you’ll find no one hates Qantas at all. Most people I know have had to endure a decade or more of pointless corporate rape of what used to be one for worlds great airlines. Absolutely none of what has been done at QF was necessary to keep the company doors open, it was all done to line the pockets of an elite few. if you’re happy to stand by while the company is allowed to decay, perhaps it is you who should head overseas. |
Folks,
I am surprised, in all this, that there has been no talk/discussion of the 747 that have been parked in the desert for a while being brought back into service, and its significance, if any, for the figure for the fleet fuel efficiency ---- with fuel prices on the way up, again. As I hear it, a team has work well under way, presumably at Victorville. Is this another triumph for QF fleet/crew planning?? Tootle pip!! |
Originally Posted by LeadSled
(Post 10288297)
Folks,
I am surprised, in all this, that there has been no talk/discussion of the 747 that have been parked in the desert for a while being brought back into service, and its significance, if any, for the figure for the fleet fuel efficiency ---- with fuel prices on the way up, again. As I hear it, a team has work well under way, presumably at Victorville. Is this another triumph for QF fleet/crew planning?? Tootle pip!! With this dynamic duo (Messrs Clifford and Joyce ) at the wheel, Qantas has sped headlong into peak hour traffic with their steely gaze fixed firmly in the rear view mirror (Apologies to the Hon PJ Keating) Qantas need a new fleet. Off to the Wood shed Leigh. |
A decision will be made at a board meeting next Friday if it would be a good idea to keep an extra 747 than planned as a spare so to speak. |
Originally Posted by dragon man
(Post 10288322)
A decision will be made at a board meeting next Friday if it would be a good idea to keep an extra 747 than planned as a spare so to speak. Do you mean an existing aircraft "planned for disposal" will remain longer, or all the money and effort that has been spent on returning one or more "parked" aircraft to service might be wasted?? I am assuming, of course, that the board knows what is/has been going on. Is that an unwarranted assumption?? Tootle pip!! |
Originally Posted by wheels_down
(Post 10288236)
Goyder won’t do much. Responsible for the Bunnings UK disaster, and the fact he had zero idea that the Target Accounting scandal was playing out under his watch shows how little control he had over at WES. for some electric heaters. "sorry we have none, technically it's Spring so we don't sell them". I told the guy "you must have some clever managers". Other places were sold out. Have to say Bunnings in New Zealand was excellent. |
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