i feel sick, page-79

Airlines are like football teams. They are all show but unfortunately are one of the worst investments. Good for the ego but that's about all. Qantas like all airlines do not make money. Sure they report one but if you look back at the amount of shares on issue over the years to what there is now on issue and look at the dwindling profits, as well as currently no dividends, you can see that even a good airline such as Qantas struggles to make money. Nothing against the people working there but reality sooner or later will sink in. Extremely high fixed running costs with lots of variables that can deflate profits.
From an investment point of view their return on equity is abysmal.