Fact 1:No assumption of zero cost for the aircraft. The cost of 777's is comparable to the cost of 747's and A380's. ALL A/C have costs. The $450m alluded to is the estimated savings in fuel costs alone if using the 777's v 747 or A380.
Fact 2: The majority of Middle eastern airline's pilots and key engineers are mostly expats, not Pakistani's, Bangladesh living in compounds as you suggest. etc... I personally know a few pilots who are working in the middle east and they are all on a very good wicket indeed.
Fact 3. The roster requirement for QCCA are for 240 flying hours per roster (8 weeks). Average of 30 flying hours/week. Nothing hidden there. Still a low salary for a full time commitment IMO.
Facts 2 and 3: Can you quote your source for these figures? I agree that the overall cost for Emirates would be cheaper than QAN (as you rightly point out, there are many foreign workers in the unskilled areas of operations). IMO QAN is heavily over managed and the executive level salaries are obscene!
As for the union being responsible for losing $200m, that is utter rubbish. Joyce made the decision to ground QAN. Fact is, the unions were after a reasonable deal, QAN wanted to play hard ball and give them nothing. That is the problem. OK for management to give themselves massive pay and bonuses. Do you not think the average worker on an average wage has the right to seek 3% wage rises in times of 3.5% inflation?
You Webzone seem to conveniently dismiss the current share price, the fact that it has nosedived, the lack of dividends for the last 3 years and the huge damage that current management has inflicted on the QAN brand. If you think they are doing a good job I would love to hear your take on why you think that.
Surfrat.
QAN Price at posting:
$1.67 Sentiment: Hold Disclosure: Held
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