People? Wake up. Qantas nearly went bust only 2 years ago. Only jobkeeper saved it.
A $500 million share buyback is utterly reckless, but preferential to executives to help get share award bonuses over the line.
Qantas balance sheet is barely in positive equity thanks in part to a previous reckless $400 million share buy back. Finance and accounting principles and history have shown doing share buybacks unless the company cashed up, reckless for long term prospects of companies. You as Qantas owners have $11 million in equity in retained earnings (that's a generous description, basically shareholders gave QAN capital to cover its losses). That's a pathetic buffer for a coming global turndown and about to be used with future profits for more buybacks:
Qantas investors must be a sandwich short of a picnic if intended long term holders, to condone this stuff.
Someone above trying to argue the buy back is a dividend in effect. Not unless you sell some shares it isn't. Just like it was a risky, but good play to buy Qantas shares when the company sold them at half this price thee years ago, its not a bad play to sell them now it buys them back barely two years after avoiding bankruptcy.
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