Don't hold your breath....Qantas board is a cosy lounge of...

Don't hold your breath....

Qantas board is a cosy lounge of relaxation and largesse. Nobody dare upset the status quo, even though the ship is heading for the rocks.

It operates like a government department where everybody goes to work every day, but nobody takes any responsibility. I just cannot see anything other than tinkering around the edges, - which simply won't do it this time. Even if Alan Joyce came up with drastic action, I doubt if his board would support him. They are just too comfortable, and have little to lose, so why rock the boat?

I suggest that the big merchant bank shareholders are only hanging around for a breakup, - knowing that the parts are worth more than the whole.

The Rex announcement on Friday, is a great telling-it-like-it-is lesson about airline costs. They are the exact opposite to Qantas board, they take action, like, right now. That's probably why they make more money than Qantas, even though Qantas is 25 times bigger.