Yeah I'd be a longer term buyer at anything under $1.50, as this...

Yeah I'd be a longer term buyer at anything under $1.50, as this is a national airline which will be protected in the manner that Ansett wasn't.

However as a longer term shareholder, Qantas has been a consistent underperformer... The management are just so good at disappointing!

Given that, I now understand how difficult airlines are to run, and the difficult regulatory circumstances around Qantas helps to make it a really tough investment. I think there are far more quality businesses out there, but at the end of the day, Qantas will be around for years to come. Who knows, they could one day come up with an initiative that changes the industry?

I think the recent run to $1.72 is an overshoot and it will likely fall to below $1.50