Dear Qantas. No. Love, a taxpayer and customer.

Posted: December 5, 2013 in Business Management, Popular Culture et al
Tags: , , , , , ,


Dear Qantas

So …

I am not an airline expert. I am just your average common-or-garden passenger. But the man on the tele says your share price has halved since current management took over. And in that time, presumably, your Directors and Management, have become seriously wealthier. If that’s not the case, please tell me, but, you know, I’m just guessing.

Meanwhile, another man on the tele says, just as one example of the coverage of your company tonight, that your investment in your subsidiary Jetstar’s Asian business currently runs at about a billion dollars. And the return? Not one cent. Hmmm.

Remember when, at the end of 2011, we had to watch, stupified, while your CEO Alan Joyce finished his year on a high note, being granted nearly $600,000 of the airline’s shares?

Two months after Mr Joyce grounded the airline, stranding 70,000 people worldwide for days, your board awarded him 375,014 shares bought for him by the company’s share plan trustee at $1.58 each, the result of him “meeting performance targets”.

As the Sydney Morning Herald reported, this brought his annual remuneration package to about $5 million.

So today, less than two years later, your basic response to your apparently dire lack of business and marketing nous is, as ever, to cut the jobs of your long-suffering staff and to stick out your well manicured mitts for a handout. Dressed up with some pay cuts for senior management. Whoop-di-doo. We suspect you can afford it.

joyceWell, Qantas, yesterday you charged me $30 PER PERSON for the privilege of booking four tickets I needed by credit card online – the only payment option on offer, of course – with me doing you the favour of not bothering your staff with having to sell me tickets.

That’s money I can’t afford. Today, you want me to subsidise you with my money, via the Government?

Well, Alan Joyce and your colleagues, I politely decline your kind offer to prop you up any longer.

You do what the rest of us would have to do. Raise the money you need from would-be shareholders on the open market. And if that means your existing shareholders end up with their value reduced, well, serve you right for running the business the way you have, serve them right for letting you, and you can wear the resulting approbrium.

You know what? I actually believe in a national  carrier. I might have even subscribed for $120 myself, but you just robbed me of that chance.

Chickens. Roost. Geddit ?

Yours sincerely
Pissed Off of Melbourne

  1. simon ondaatje says:

    Couldn’t agree more – the little leprechaun is well out of his league and not a patch on Dixon – they should have picked Borghetti and now rue the day.


  2. Michael Zadorozniak says:

    So this chap has lost millions off the share price. Ummmm and he’s still got a job???


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