I disagree. Program changes of the like we've just seen land take months and months of behind the scenes work prior to an announcement like yesterday's one.
They would have been very close to sign off on this work when Velocity's changes were made public.
Qantas don't operate in a vacuum and I'm sure would have wanted to move to spend-based status for ages. Having said that, they hold the dominant position, and you wouldn't move to spend-based if it meant giving the V team a free competitive kick along. But VFFs announcement means that QFF can now do it without destroying their own relative competitive advantage. But again, that will take some time to work through. Probably six months of work internally before they land on exactly what it'll look like, hence the 'more to come in 2025'.
I'm sure they went back and asked the question whether to hold off on the changes they were already working on (that we've seen go live). It's a sensible decision IMHO to push these through as they'll improve margin without too much downside, even if there is more to come.
