27th February Big Qantas announcement

[Major]

Share price now down over 6% to $1.19

 

[eric2011]

Havent been able to get to a TV. Any news/changes to the QFF program

 

[Kendall Roy]

Joyce:

• Eight A380s on order will be deferred, as well as three of the remaining 11 787s

Not surprised about the A380, but JQ having 787s over QF is a joke!

 

[Danger]

Joyce:

• We'll be working with our employees to manage [the job losses] in a compassionate way
• Today our focus in on transforming our cost base for earnings recovery
• Qantas has valuable and desirable assets across our diversified portfolio
• Sale of BNE lease to be recognised in second half of financial year
• No other decisions made on capital (eg. leases, buildings)
• Our customers are at the heart of what we do [just not in Darwin, Adelaide, Hobart or Canberra]
• We'll continue our A380 reconfiguration project
• Wonderful new lounges will open up over the next few months in HKG and LAX to complement the success of our SIN lounge
• We'll continue to strengthen QF loyalty for our customers
• Qantas will remain a top tier international carrier

 

[Danger]

Havent been able to get to a TV. Any news/changes to the QFF program

No, which is at least one positive.

 

[maninblack]

Air nz dont have a virgin in their backyard either.

Sure dont complain about potential competition...own them!

 

[Danger]

Joyce:

• Over the past five years we've shown yet again that we can take the tough decisions to survive
• We're doing what is right and what is necessary
• We'll draw upon the deep resources that this company offers
• We have . . . a FF program that is going from strength to strength
• Qantas will still be one of the great airlines [according to who?]
• Qantas will still be a strategic asset to all
• We must and we are making the hard but necessary decisions that will protect this great company

 

[Danger]

First question from "Ross": "Has there been any discussion with the board about your own position?"

Great question.

Joyce: "I'm absolutely committed to QF . . ."

 

[Kendall Roy]

Joyce:

• We'll continue our A380 reconfiguration project

WTF - This has been completed?

 

[Clivem]

Air nz dont have a virgin in their backyard either.

I have heard that, .....a distinct lack of virgins in New Zealand backyards. (confirmation sort)

 

[markis10]

IMO, Air NZ is more of a 'niche' carrier which works for them. It has a much smaller international network that QF and its domestic and Trans-Tasman product is more low-cost and full service. Granted they have also made some right fleet choice (i.e. the 777) which helps..

Their international network is not "much smaller"??? London, Los Angeles, San Francisco, Vancouver, Honolulu, Hong Kong, Shanghai, Tokyo, Osaka, Sydney, Melbourne, Adelaide, Brisbane, Perth, Darwin and Cairns, as well as a host of pacific island destinations including Rarotonga, Vanuatu, Fiji, Samoa, Tonga, Tahiti, and more. Red highlights ports not serviced by QFi.

 

[codash1099]

I'm in exactly the same boat. The handcuffs are truly off! The SQ chicks are hotter anyway.

Truth is, they don't care.

 

[Danger]

Question: "I think we'd be hoping the international result would be better given the deal with EK last year".

Joyce: "There's a couple of actors there. There's been a 9% growth of capacity into and out of Australia . . . which has resulted in a significant hit on the yield of our business . . . Fuel . . . significant rise in the cost of the fuel side . . . I have to say that the EK alliance is getting a great reaction . . ."

 

[Mr_Orange]

Joyce:

• Our customers are at the heart of what we do [just not in Darwin, Adelaide, Hobart or Canberra]

or Perth !!

 

[Fruitcake]

Air nz dont have a virgin in their backyard either.

They used to. Pacific Blue was one of the reasons that NZ turned themselves into an unbundled fare airline for domestic and short-haul international.

 

[Princess Fiona]

Does anyone know what the re-timing of QF 9/10 is?
I think this is the one good piece of news.

 

[Danger]

WTF - This has been completed?

I apologise if I got this wrong. Joyce may have said A330 reconfiguration.

 

[Danger]

or Perth !!

Wow. I can't believe I forgot my own city. I should work for Qantas.

 

[Major]

Their international network is not "much smaller"??? London, Los Angeles, San Francisco, Vancouver, Honolulu, Hong Kong, Shanghai, Tokyo, Osaka, Sydney, Melbourne, Adelaide, Brisbane, Perth, Darwin and Cairns, as well as a host of pacific island destinations including Rarotonga, Vanuatu, Fiji, Samoa, Tonga, Tahiti, and more. Red highlights ports not serviced by QFi.

And MCY seasonally

 

[Duffa]

Haven't got anything useful to add. Just like the thought of more than 100 users seeing my post!