QAN - Qantas Airways

[McLovin]

If I were a betting man, I'd say the reason for this policy change is that Qantas discovered that it's own Qantas Club members were switching to Emirates in economy and booking Emirates flight numbers. Which a few of us said earlier was bound to happen.

Qantas Club members will no longer be able to use Qantas international business lounges when travelling in economy on an Emirates flight number as of October 1st, the airline revealed today.

The new rules will also keep Qantas Club members out of Emirates' airport lounges at Dubai unless their ticket carries a QF flight number.

While the move doesn't affect status-tiered members of the Qantas Frequent Flyer scheme, it will impact the many thousands of Australian business travellers who pay upwards of $400 a year to use the Qantas Club lounges in Australia and partner lounges overseas.

http://www.ausbt.com.au/qantas-tightens-lounge-access-rules-for-emirates-flights

 

[wayneL]

A headline loss of 2.8 billion
.. Some writedowns involved, but sheesh.

What is the future for Qantas?

 

[skc]

A headline loss of 2.8 billion
.. Some writedowns involved, but sheesh.

What is the future for Qantas?

It's OK. H1 EBIT positive according to Joyce. Share up 8.3%.

 

[McLovin]

It's OK for the next six months. H1 EBIT positive according to Joyce. Share up 8.3%.

I fixed it for you.

 

[wayneL]

It's OK. H1 EBIT positive according to Joyce. Share up 8.3%.

Hmm haven't seen the numbers yet, but the analyst on Pravda was incandescent.

 

[skc]

I fixed it for you.

You just don't get it, do you. Would you look at those uniforms?!!

http://www.afr.com/p/lifestyle/afrmagazine/qantas_under_the_radar_designer_EzsReU3C62XOvWp6l2jQvM

Are you telling me that an airline with an awesome designer uniform would be in trouble?!!



To be honest... I have never seen any airhostess who look remotely like Miranda Kerr. So a bit of false advertising there.

P.S. Writedown is just one-off (i.e. once a year) and they are non-cash (ignoring the fact that real cash was spent to acquire those assets).

 

[qldfrog]

with uniform like that, I am back in the 80's with Space 1999/star treks uniforms coming straight to mind
So Qantas is the future

 

[IFocus]

Got to be the story of the millennia if Joyce and the board keep their jobs.

 

[Julia]

Got to be the story of the millennia if Joyce and the board keep their jobs.

You are so unkind, IF. Didn't you hear the nice Mr Joyce explain that it's nothing at all to do with his competence, and all to do with external factors?
What a crock!

 

[Smurf1976]

Got to be the story of the millennia if Joyce and the board keep their jobs.

Whilst it further fuels the public perception that CEO's and board members are drastically overpaid leeches on society.

An epic failure, rewarded with an annual salary more than the average worker's lifetime earnings. Hmm.....

 

[tech/a]

Whilst it further fuels the public perception that CEO's and board members are drastically overpaid leeches on society.

An epic failure, rewarded with an annual salary more than the average worker's lifetime earnings. Hmm.....

Smurf
Your response is typical
He is cleaning up a mess which has taken 10 yrs to create.
He's the henchman
Un popular but the ONLY ONE capable of making and implementing
The decisions required to survive and re grow.

Earning his money in my view.

All those in his position are perceived similarly.
It's human nature and why few can command his remuneration.

 

[McLovin]

Smurf
Your response is typical
He is cleaning up a mess which has taken 10 yrs to create.

You're joking right?

He's been CEO since 2008.

Everything he has, more or less, been a negative for the company. The cherry on top is that ridiculous agreement with Emirates which has seen their traffic into/out of Australia grow by 18% while Qantas' traffic has grown by 2%.

 

[prawn_86]

Yeh I am yet to see him take responsibility for anything. True leaders will accept at least part of the blame for a disastrous performance

Even in his latest interview he said that things are headed in the right direction, so long as anything beyond his control doesn't affect it. Talk about a verbal get out clause.

 

[tech/a]

Yeh I am yet to see him take responsibility for anything. True leaders will accept at least part of the blame for a disastrous performance

Even in his latest interview he said that things are headed in the right direction, so long as anything beyond his control doesn't affect it. Talk about a verbal get out clause.

Ok In the year 2009 price plummeted and that could be attributed to past management.
Then price has ranged approx. $1.50 to $3.00 ish.
Various softer decisions culminating in the decisions that HAD to be taken.
A lot of this is Write down of fleet value.

How can you control anything that is beyond your control??
Its not a get out clause its a fact of life.

So At $1.36 your not buying?

Ill go on record and say I would with a stop at $.99c
But would add at $1.42 and $1.52 and $1.92 at which time Id be chasing my stop to B/E (once$1.52 is reached)

 

[McLovin]

Ok In the year 2009 price plummeted and that could be attributed to past management.
Then price has ranged approx. $1.50 to $3.00 ish.
Various softer decisions culminating in the decisions that HAD to be taken.
A lot of this is Write down of fleet value.

The decision to put endless streams of cash into the sinkhole that is Jetstar Asia. The decision to continue to pursue four engine wide bodies when all your competitors are switching to twin engine aircraft (granted some of this was beyond Qantas' control). The decision to run a costly and futile price and market share war against Virgin that ultimately has failed, and created an oversupply in the process. The decision to not invest in fleet upgrades that have meant Qantas runs an out of date product. The decision to ground the airline and leave thousands of passengers stranded and destroy what little brand loyalty you have left.

These are all decisions taken by the current management. Joyce came from Jetstar (and Ryan Air before that) and runs Qantas like it's a budget airline. The only thing not budget is Joyce's pay packet, which disgustingly is bigger than the pay packets of the CEO's of Singapore, Cathay and Air NZ combined. They have wasted their time on stupid soft things like new uniforms and those awful wine dispensing machines. Why does an airline that is making a loss at the operating level need to employ one of the most expensive models in the world to launch their new uniforms. It just smacks of a management that is completely out of touch living in the 1990's.

 

[prawn_86]

How can you control anything that is beyond your control??
Its not a get out clause its a fact of life.

He has not defined what is in his control as far as i am aware. At what point does he, the CEO and ultimate responsibility holder for the airline, take ownership of decisions and the losses that Qantas has incurred? If everything is beyond his control why are they paying him so much?

Can he honestly say that everything (or even most things) he has done has delivered share holder value and set the company up for the future? If not, then why is he getting paid so much?

Im not talking about buying at current levels, i would never buy an airline personally, but im just talking about bang for management dollar.

 

[tech/a]

What is out of ones control is limitless.

So buying?

 

[prawn_86]

What is out of ones control is limitless.

So buying?

Im not discussing buying QAN, i am discussing Joyces management style.

If too much is out of his control, and what he can control isnt adding value, why is he employed?

 

[barney]

Posted this on Darkhorse's thread ...... puts the buying in perspective.

The cumulative Short sales in a few days time might tell an interesting story.

 

[tech/a]

Im not discussing buying QAN, i am discussing Joyces management style.

If too much is out of his control, and what he can control isnt adding value, why is he employed?

To define those things in his control which can if implemented will over time add value to his company and in turn shareholders. Make the decisions necessary to implement those things he can control and cop the fall out.
Be the patsy. No one likes a CEO in hard times---buck stops at the top.

So now I'm talking about buying QAN
The decisions have been made and now being implemented.
Joyce is still at the helm.
Qantas is still flying.
Share price is rising---and if it keeps rising Id say he's pretty safe--regardless of how out of touch anyone believes he is.

If price falls then so will he---regardless of what he/you/I think.

Barney there will be buying to cover short positions as you point out.
Covering may well be only on recent shorts---a week will show if selling has dried up
provided of course factors beyond our control affect the market!