QAN 0.77% $7.22 qantas airways limited

Will QAN survive?, page-5962

  1. 10,734 Posts.
    lightbulb Created with Sketch. 1414
    I hardly ever watch 'their ABC' but tonight Alan Joyce was on The 7.30 Report.

    He boasted about how QAN had 161,000 people applying for 7,000 positions. 23 applicants per position is not many, even though some will be highly specialised (such as licensed aircraft mechanical engineers, LAMEs). I once went for a job with 160 applying, and many of you will have had similar experiences.

    IIRC, he said non-management staff were paid on average $100,000 per annum. Yet the typical base rate for many flight attendants is $45,000. They end up with more through allowances and the like but it's debatable if they receive anything close to $100,000.

    He defended what the interviewer said was his $24 million (payout?). Said companies were willing to pay for skills. (But even though much is in share entitlements, it's still obscene).

    He apologised re the flight credits fiasco but did not admit that USA airlines such as American Airlines did far better in handling this. He denied making it hard for passengers to claim these credits had been a major part of QAN's strategy.

    Not once did he mention how the QAN fleet has aged in the 15 years he's been there. (The interviewer failed to ask him about this). Today we even had QAN in its presentation saying '21 years' was basically a normal life for an aircraft. Not with all competitors it isn't!

    He said that supporting the 'Yes' vote in the (likely 14 October 2023) referendum was important as companies should be active in the social space. But his job is to run an airline, not preach to us about what we ought do in other areas. Who elected him as the arbiter of what's 'good' for society, and why isn't he painting three aircraft with a 'NO' vote embalzoned on their fuselage or elsewhere. Why is he only giving free flights to 'YES' vote campaigners? Very one sided, and smacks of again currying favour with the Labor/Greens government of Albanese.

    He wouldn't be drawn on the furore about Anthony Albanese's son obtaining Chairman's Lounge membership. Said he didn't discuss such matters 'due to privacy laws/considerations.' Sarah Ferguson (interviewer) pulled him up and said 'well you've said previously why large companies such as BHP/RIO receive memberships to the CL' and asked if a business relationship was the criteria. He then said 'there's a range of factors' and wouldn't answer whether previous PMs had seen their sons or daughters receive membership to the CL. (I bet if it was a Coalition PM such as John Howard or Scott Morrison, the answer would be 'no' - although the latter's children were younger).

    Joyce said he understood cost pressures on households given he came from a poor background himself. He wouldn't say when airfares would come down to lower levels, parrotting how many have flown at under $200 with QAN 'own livery' or under $100 with Jetstar.

    The interviewer did not mention how QAN refused to bring Aussies home during COVID unless it received a government subsidy. This was in contrast to a lot of foreign airlines including United Airlines (which took out full page newspaper ads reminding us of its support), and yes, Qatar Airways that surprise, surprise has just been denied extra flights by Federal Transport Minister Catherine King (who of course is a CL member).

    Joyce claimed '8500 jobs would be created by QAN in the next decade'. But a recent tourism industry study said the decision to deny Qatar extra flights would cost hundreds of millions of dollars to Australia during the next few years.

    Joyce said paying back any of the $2.7 billion in CIOVID-19 subsidies QAN received (largely from the Federal government) was not going to occur. he questioned why QAN should have to pay back (for instance) the cost of operating aircraft for the Feds. (He omitted, of course, that IIRC Lufthansa in Germany has paid a big amount back to the German Federal government).

    Joyce said the matter of how (1863?) employees were treated was subject to a High Court appeal so he wouldn't discuss. Of course not!

    All in all, just typical as to how QAN's reputation has been trashed.
    Last edited by Hopeful9: 24/08/23
 
watchlist Created with Sketch. Add QAN (ASX) to my watchlist
(20min delay)
Last
$7.22
Change
0.055(0.77%)
Mkt cap ! $11.32B
Open High Low Value Volume
$7.16 $7.34 $7.13 $32.99M 4.543M

Buyers (Bids)

No. Vol. Price($)
33 11222 $7.21
 

Sellers (Offers)

Price($) Vol. No.
$7.22 34388 60
View Market Depth
Last trade - 14.53pm 18/09/2024 (20 minute delay) ?
QAN (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.