Hi
I imagine that this move will force the govt's hand and they will now get involved.
I was a shareholder for quite a number of years but bailed out (from memory) about 5 or 10 cents short of the (stupid) offer under Geoff Dixon cause I was prepared to give the next person the 'time value ' of holding the shares until the offer was finalised. Boy, was that a good decision as it turns out.
Always had a very soft spot for QAN as an investment and felt proud to see a plane in the air and be ' part ' of the company.
I know a few QAN employees as friends and a couple of relatives work for QAN and they have felt the same and some still do. A relative is a CSD (I think that is the role) and did very, very nicely over the years.
I think on this issue both sides are right and both sides are wrong.
For many years the QAN wicket was a pretty good one for staff and probably still is for others. However, it is a tough industry and will go into the future with the dragging a screaming but it will go to the future.
The QAN management team have the power behind them and with the Gov't stepping in, are stronger.
The pay rise for the CEO - hypocritical and says a lot about the man that he would accept it but by being a member of the 'club ' automatically ensures that he would see nothing wrong in it - shame!
Both sides should pull their heads in but probably won't.
I know that when I was a QAN shareholder I wanted a nice dividend but not at the expense of treating people badly. QAN employees have it a lot better than those at other airlines - I did some contract work with an airline a few years ago and saw people treated terribly. Some QAN people would do well to look at the conditions pit crew and baggage handlers do with contracted firms at other airlines - disgraceful.
Sorry about the rambling post. Reality to me is that behind the scenes this industry is grubby in many ways.
I feel sorry for the shareholder in this - both sides are grilling them.
all the best
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