Qantas AGM

[Damien]

For those of us who weren't able to make it, what happened? Did any sparks fly?

 

[Kiwi Flyer]

Lindsay, serfty, anyone?

 

[kpc]

You can listen to the whole QF AGM if you wish...

Click on View a webcast of the AGM here:

http://www.qantas.com.au/info/about/investors/agms

 

[serfty]

Lindsay, serfty, anyone?

Not me, I was out in Fyshwick earning a crust!

 

[Craigo]

Lindsay is planning to give a full report on the AGM when he returns to Brisbane, so I won't steal his thunder.

Suffice to say, most big company AGMs are attended by septugenarians and octogenarians who have nothing better to do with their time and therefore dominate the shareholder question time with pedantic and irrelevant questions. The Qantas AGM was no different.

BTW, there are many different and unusual ways of 'earning a crust' in Fyshwick, serfty :wink:

 

[Mal]

Haha! Serfty you might want to clarify how you were earning that crust... Fyshwick has a reputation as an interesting area at times...

As for the meeting, watched the webcast last night. The question time was fairly pathetic really (no offence if anyone for AFF actually asked a question!). And as for the meeting, didn't see any major revelations in the presented material.

 

[danielh]

Well given the recent activity (or lack of) in the sharemarket I decided to off load about half my QAN shares today (got 8000 on 12th and 13th Sep 2001). Also been off loading most of my portfolio the last few weeks to jump in on better days. :-|

Regards
Daniel

 

[serfty]

Haha! Serfty you might want to clarify how you were earning that crust... Fyshwick has a reputation as an interesting area at times ...

BTW, there are many different and unusual ways of 'earning a crust' in Fyshwick, serfty

Yeah, right, perhaps I should say it was nearer to Kingston? This crust, I hope, will be elctronically direct debited between bank accounts in the next few weeks. Quite clicsl really. :wink:

 

[QF WP]

Actually, the first AGM I've actually attended (always sent in my proxy before this). There were three of us from AFF/FT there - Alan in CBR, Craigo and me. We sat in the second front row LHS, behind the Directors up for re-election (directly behind James Packer and Patricia Cross). QF was trialling an electronic voting method that worked extremely efficiently.

There were only four executives on the stage - Chairperson Margaret Jackson, CEO Geoff Dixon, General Counsel & Company Secretary Brett Johnson and CFO Peter Gregg. They were not retiring and did not need to be re-voted back to the Board. Impressed with all of them (mainly Margaret and Geoff Dixon doing the talking, Brett and Peter giving information for them to respons to questions).

Chairperson's Report from Margaret first up, outlining the information about QF results that have already been reported in the press. Couple of questions from Aust Shareholder Association proxy holders and some communist workers rights person. Then the septgenarian who had multiple questions to Margaret who rambled on and everybody lost interest in what he was saying.

Geoff stood up and reported on the marketing, staff and Alliances (Jetstar, Australian Airlines, etc). Again, questions to Geoff from the same three were all skillfully dealt with by him.

There was an octagenarian stand up and commented at length about his question last year to Margaret, for which he hadn't received a written response as promised. He rabbited on about Israel and terrorists and Margaret cut him off by answering his question before he finished. General Peter Cosgrove approached him after the meeting and lots of photographs taken by the press.

Directors were then re-elected. All achieved greater than 98.5% of voting at the meeting - General Peter Cosgrove (bring a CBR local) achieved 99.5%. Questions about whether all the Directors actually owned QF shares (as some didn't by the FY end). Margaret was able to confirmed that they all now did own shares (James Packer was one of the mentioned Directors).

The Directors Remuneration was passed after a bit of debate from ASA and others - some thought the hurdles were too low. I thought they were in line with market expectations (unlike the Consolidated Mineral's one).

After the meeting, I went to the Customer Relations desk and submitted a question regarding having a QF person available on the Flyertalk BB to answer questions. When I get aresponse, I'll mention AFF as well.

Did I miss anything, Alan in CBR or Craigo??

 

[Craigo]

Did I miss anything, Alan in CBR or Craigo??

No, that sums it up very well. You were probably a bit more diplomatic in your descriptions of the silly old buggers than I would have been.

 

[Kiwi Flyer]

Sounds like a typical AGM.

But what's this?

We sat in the second front row LHR

I thought it was in Canberra not London. No wonder you've been quiet lately

 

[infoworks]

Not much new here, but reported today:

Qantas sets December date for fleet decision
Wednesday October 19, 2005
Qantas is due to make its much-anticipated fleet decision between the 787/777 and A340/A350 on Dec. 7.

CEO Geoff Dixon told ATWOnline that the airline will submit on that day a recommendation to the board for the 100-aircraft commitment. Boeing is working with Qantas on an even longer-range 777-200LR to operate nonstop from Sydney to London. It would be configured in an all-business-class arrangement and have a lighter-weight interior.

Dixon said Airbus has advised that its A340-500 is not a contender for the Sydney-London Heathrow route and added that the route is not without its challenges for the 777-200LR.

Meantime, he said the carrier is looking to expand its Australian LCC Jetstar to take over regional international holiday routes from both Qantas and its holiday subsidiary Australian Airlines. The new Jetstar International would be two-class and eventually may fly to the US and Europe.