You're not alone in overlooking the fact that Qantas has totally...

You're not alone in overlooking the fact that Qantas has totally put off any capex. Why do you think that its planes are falling apart?

The costs that Joyce is postponing to a future successor are tremendous. This capital raise exercise, whilst successfully hoodwinking a stock market that remains in a bubble, is the dumbest move for the company. Smart for Joyce's remuneration, smart for short term traders, but unsustainably stupid for the long term. There's a reason why Qantas's reputation, that was earned over many many decades, has gone down the drain in only two years. Think about it.