heard there might be a pilot strike??, page-25

I am a transport industry worker and I'm yet to come across one company that doesn't over-recover fuel from fuel surcharges, if and when they decide to throw one in. Its always an over recovery.

Although I dont work for Qantas I believe the way how they approach would the same, always leave a little bit of cash in the tin for the rainy day.

I believe the pilots are very smart people and they know how to play their cards to get their message across and they're not foolish to cross the red line. I mean, come on, the game that union is playing is hardly ever creative or original. The impact a strike can make to the year end profit is limited.

I am happy that QAN is on the ball with what's going on in fuel cost. And I'm satisfied that the market has moderately undervalued QAN(oversold is a big word that I dont like using as it has a component of exaggeration), and I'm happy to continue to hold. The comment Alan Joyce made about not being able to recoup the full cost of fuel, I think that is an understatement, any sensible CEO would make that sort of comment and follow up with a surprise cool result in year end. This strategy is nothing new in the transport industry either.

I'm not selling my parcel until at least $2.30 or higher.