Hey allI owned QAN shares many years ago and build up a position...

Hey all

I owned QAN shares many years ago and build up a position through the DRP and buying in dips. I felt very proud every time I saw a QAN plane in the sky & always enjoyed flying with them.

I got out after the failed attempt to privatise it a few years ago with the support of Geoff Dixon. I thought the deal would go ahead and exited because the current share price then was attractive compared to the offer in terms of risk of deal going through and time value of money. In hind-sight, I never looked back....:)

QAN now? Very sad indeed...they are in a tough industry and at the grass roots level their cost structure is just too expensive. The Tolls and Menzies of the world do more with less staff and much cheaper. The movement into Qantas Q is unfortunately the way to go, the old staff may have their experience but they just cost too much compared to the service available now.

Unfortunately, some QAN staff think that the game is the same as 20 years ago, it has changed forever and if they can't keep up QAN share price and success / failure will continue to dive.

This is not a post to make sweeping statements about QAN staff, of course, there a great ones, terrible ones and those in between.

The reality is that the world has changed and the culture of QAN must change for it to survive. A good start would be a CEO with grass roots understanding of the aviation industry, a genuine commitment to the staff and a salary reflecting a proper multiple of the average wage. Perhaps then staff will willingly follow them from the 1960's to the culture of today.

Good luck to holders, your loyalty is admirable

all the best