There are two conversations happening here.The first...

There are two conversations happening here.

The first conversation is whether Qantas is a good investment. Opinions vary, but my answer is no. I am not a shareholder, nor do I plan to be one. The economics of the industry are bad, highly capiltal intensive, sells a commoditised service. I dont expect Qantas to deliver superior returns in the future, despite all sorts of protections and guarantees it enjoys from the federal government.

The second conversation regards Qantas' ethics and governance. There are a few here who have some sort of beef with the Qantas board. For starters, for a lot of its history, Qantas was government owned. Since privatisation, its board was lead by first class chairmen with impeccable reputations, (the late) Gary Pemberton, Margaret Jackson, Leigh Clifford and now Richard Goyder. I doubt if any other Australian corporate can boast better board oversight than Qantas. I am not going to waste my time trying to convince people of this basic fact.