How will the latest gov stimus help FLT, page-22

"Thousands of Australian staff = millions of $$ per WEEK from the govt for the next 6 months (at least) to contribute to wages.

"That's $18m over six months for every 1,000 staff. Significant."

Yes it is. However, it's a zero-sum calculation and it won't make much of a difference, financially, to a company that now has basically Nil ongoing revenue because of the global travel restrictions. Skroo has effectively come out and indicated as much. (Reading between the lines I'm certain he was hoping for something more targeted at directly assisting the business, but that wasn't to be. No surprises there, as it's not a nationally strategic important business to warrant more specifically tailored assistance).

FLT is unlikely to be any better off financially (net) for this because the alternative was to also stand down staff but pay them nil for the duration (per current IR laws, sans drawing down accrued leave entitlements). If a business retains staff on active duty it must pay them according to the current relevant EBAs. The JobKeeper package only acts as a subsidy to assist in that regard. Where a company has suffered a catastrophic drop in revenue and also a temporary vapourising of its saleable product (per FTL, WEB, et al) the decision becomes academic. The company simply cannot afford to pay normal salaries - even with the JobKeeper allowance, so it will do the only rational thing it can and conduct further mass stand-downs, which it would have needed to do anyway. The JobKeeper money will simply pass through FLT to the many staff who remain as employees but are stood-down who will now (rightly) receive more than nil.

It's a dreadful, dreadful situation for all players to find themselves in... through no fault of their own.