QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

[ChrisCunard]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

"We made the right decision in Jetstar"

 

[yohy?!]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

"new domestic fare structure"

 

[Kendall Roy]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

New QF DOM fare structure to be announced tomorrow.

DOM making enough money.

INTL not covering capital. Losses this year with worse outlook next FY

 

[Danger]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

Alan Joyce at National Press Club:

• "Our competitors are reconsidering their options . . ."
• "Tomorrow we will be announcing our now domestic fare structure . . . which will give more benefit to our frequent flyers".
• Purchase of 10 F100 aircraft.
• QF Freight working profitely.
• "QF international absorbs more capital than any other part of our business".
• "Clearly, the current situation is not sustainable."
• "QF international is quite simply one of the world's best airlines. It's consistently ranked in the top 10. It is renowned for its safety performance . . . It wins awards for food and wine . . . QF international is a great airline."
• "It has achieved its required returns only three times in the last 15 years. The problem has been developing for more than a decade."

 

[anat0l]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

"QF International restructure necessary" - no **** Sherlock!

Restructure it with Jetstar - no! *bzzzt* wrong!

 

[anat0l]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

"Qantas international competes with international airlines selling into the Australian market but with a far lower cost base."

As does V Australia with the same kind of competition, and they're doing well - now who do you blame for that? Blame, blame, blame, blame, blame............

 

[yohy?!]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

Let's bring up Ansett and put it in the same sentence as QF:shock:

 

[Danger]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

Alan Joyce at National Press Club:

• Having a dig at government-owned airlines without the expectation of return, some with up to 24% lower operating costs.
• "No doubt many people think QF is indestructible."
• Will remember AN's 10 year anniversary this year.
• "AN was a good airline. Many Australian believed it, too, would be around forever. AN collapsed because it failed to adapt in changing times".
• "Our task must be to transition a great airline to a great business."
• "On August 24 I'll be announcing our plans for the strategic renewal of our international operations."

 

[Kendall Roy]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

He dropped the A word!

 

[yohy?!]

re: QF CEO speech - dom fare restructure/profit update/RR settlement& Int Route changes?

A lot more joint ventures with partner airlines

Read more codeshares, make QF more virtual a la VA?

 

[markis10]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

He dropped the A word!

He did work for them!

 

[Kendall Roy]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

Outsourcing here we come!

 

[anat0l]

Re: Qantas CEO speech - profit update, RR settlement, Int Route changes?

Joyce is trying to liken the declining state of QF International and necessary restructure to an evasion of the Ansett fate, i.e. continuing with a high cost base and not trying to realign will subject them to the same way that Ansett essentially killed itself.

Somehow I'm not so sure that the analogy is not right, even though QF may have a considerably higher cost base than many of its competitors. That higher cost base for one is probably higher wages for its employees (and no one likes it when those wage levels are decreased), but everything else surely can be better managed.

 

[orac]

Re: Qantas CEO speech - profit update, RR settlement, Int Route changes?

Qantas is in a share trading halt today for a "price sensitive announcement on their financial outlook"...
I think it's a changing attitude to flying these days.. people just want to get to their destination and don't seem that concerned about the "flying experience". It's probably more like to a train ride now, just something you've got to do.

I agree, air travel for me these days is a means to an end. I tend to pick the carrier and route that best suits my requirements at any particular time. I would not have done this five years ago, I would have been looking for points/SC's

 

[TonyHancock]

'excellence in brand management' !!!!!

 

[Danger]

Re: Qantas CEO speech - profit update, RR settlement, Int Route changes?

Alan Joyce at National Press Club:

• "We'll be working with our alliance partners more closely . . . including more joint ventures."
• "The future will be about travel to and within Asia".
• "We'll cast a ruthless and honest eye over non-performing . . . parts of our international operations".
• In five to 10 years, QF international will be "participating in many regional opportunities around the world. We'll be taking QF know-how on the road."
• "We'll be doing things smarter and more efficiently."
• "We'll extend all reach while restraining our cost".
• We'll be giving our customers a fantastic travel experience."
• Now going onto talking about employees and IR.

 

[drewbles]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

• "AN was a good airline. Many Australian believed it, too, would be around forever. AN collapsed because it failed to adapt in changing times".

Perhaps Mr Joycehad his blinkers on around the time of the AN demise.

That was a comedy of errors, starting with TNT/News Corp, ending with NZ buying an airline it couldn't afford to veto SQ, and then ditching AN to save it's own cough.

I dislike Mr Joyce more and more....

 

[Kendall Roy]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

He did work for them!

I meant QantASIA

Anyway, sounds like AUG24 is D-Day for QF International. Orange paint prices expected to rise :shock:

 

[Kendall Roy]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

'excellence in brand management' !!!!!

Surely he's taking the piss?

SLAM SLAM SLAM!

 

[markis10]

Re: QF CEO speech - dom fare restrucure, profit update, RR settlement, Int Route chan

[/LIST]Perhaps Mr Joyce wasn't around for AN.

That was a comedy of errors, starting with TNT/News Corp, ending with NZ buying an airline it couldn't afford to veto SQ, and then ditching AN to save it's own cough.

I dislike Mr Joyce more and more....

He was there for the death:

Alan Joyce came to Qantas in 2000 from Ansett Airlines where he had impressed then Ansett chief executive Rod Eddington, later to become Sir Rod after his appointment as head of British Airways. As the fortunes of Ansett dived, Sir Rod recommended Mr Joyce to Geoff Dixon who gave Joyce a senior post overseeing network operations. He was appointed to run Jetstar in 2003

Qantas appoints Alan Joyce CEO to replace Geoff Dixon | Herald Sun