Joyce has now blown $50m on buying back $QAN stock in the midst...

Joyce has now blown $50m on buying back $QAN stock in the midst of a bear market that even Stevie Wonder could see coming and that we all know will get worse. Interest rates are going up and when Qantas finally do decide to spend on very overdue capex it obviously won't be raising capital after buying shares back, it'll be with debt which is getting more expensive month by month.

This buyback caps off the dumbest chapter in this history of Qantas managment in all time and only the AFR seems to be calling it out. Anybody shorting the stock will obviously look forward to the time that Qantas has almost spent its $400m buying back shares knowing, with absolute certainty, that the stock will drop instantly thereafter once this line of demand for the shares evaporates. I assume that Joyce's remuneration metrics will have been set before then but otherwise this will end in disaster for the company. Their board members must be a bunch of total assclowns.