QANTAS covid recovery plan.

[red750]

Sky News is reporting that Qantas will sack 20% of it's staff and will ground 100 planes for 12 months.

[facthunter]

Probably unavoidable in the circumstances. I've been surprised at share price optimism/Greed.. Nev

[Jabiru7252]

The %^$##@ CEO could take a pay cut.

[tillmanr]

He has, about $3.3million. Easy to search. I am not an apologist for Mr A Jones.

[facthunter]

It's A JOYCE who has made 24 mill a year. J Christ wouldn't want that much. Nev

[Flightrite]

It was only a matter of time before the SkyGods took a bath on this,

[facthunter]

It will affect most airlines that carry people.(self loading cargo) who transmit infections and always will. Mid sized dedicated Cargo might find a niche with"treated passengers" carried too in prescribed circumstances. Treated might be RICH and different but that is not what I mean. The cheap fares associated with these airborne Cattle Trucks will be a thing of the past. This little BlackDuck wouldn't have been fronting up to buy Qantas shares even if the overpaid over rated anti- technical Accountant running it wasn't there.. Qantas has a long history much of it "Protected" from serious competition over the years. Nev

[Downunder]

Having been on the receiving end of a "downturn" myself, alot of companies simply use it for an excuse to restructure and make layoffs......under the guise of "current economic conditions".....

That is how the game is played.....

[tillmanr]

Typo in #4 above, should read Joyce not Jones. It may be only part of his income but big donation in my opinion.

His package is not much different to many on excessive bundles.

[facthunter]

He's the Highest paid Airline executive in the world. Aren't WE so lucky to have his talent? Nev

[Flightrite]

Having been on the receiving end of a "downturn" myself, alot of companies simply use it for an excuse to restructure and make layoffs......under the guise of "current economic conditions".....

That is how the game is played.....

 

Ditto, been there done that! Retrenched means sack everybody, start up a new shelf Co & hire the weaklings, that's exactly what the Co did!

[facthunter]

Yes, they call it "good" management. The more they sack the more the share price rises. Company loyalty only works one way. Unregulated surplus workforce. You don't like what we are offering? OK. NEXT!. Nev

[Marty_d]

All the A380's off to the boneyard I hear, spending the next year or 3 sitting in a desert with shrink wrapped engines. Would have thought we could build one of those somewhere in the outback, haven't we got any low-humidity deserts here?

[onetrack]

Marty, we have an aircraft storage business based in Alice Springs.

 

https://www.ft.com/content/2bcb6e12-22ed-11ea-b8a1-584213ee7b2b

 

[Flightrite]

Sad to see but inevitable? When I was last in YBAS (Alice Springs?) around a year ago the surplus machines where gathering then.

[Old Koreelah]

...Qantas has a long history much of it "Protected" from serious competition over the years. Nev

As have many airlines and builders of cars, ships, etc in other countries.

When Australia embraced free trade we went a bit further than many of our competitors and have lost out as a result. National interest is a good reason to protect our country's diminishing numbers of iconic firms from predatory multinationals who have a long history of sucking up marketable brands and closing down anything that doesn't turn a big profit.