Qantas is still very much on war footing as it continues to navigate the impacts of COVID-19. One thing you could not accuse Alan Joyce of is procrastinating. Alan Joyce has increased pressure on state premiers over border closures urging 20,000 of its stood-down staff and the airlines 10,000 suppliers to sign a petition calling…
Read More Alan Joyce has increased pressure on state premiers over border closures
Qantas FY20 Financial Results Qantas’ 2020 Yearly Report is in and the results were ugly with Qantas reporting a very skinny $124 million (Underlying) profit down 91% from last year. When you factor in their aircraft write-downs and redundancy costs Qantas actually made a statutory loss of $2.7 billion. Qantas ratios in particular profitability…
Alan Joyce was supposed to be celebrating Qantas’ Centenary Year, but the COVID-19 crisis has seen Qantas effectively stalled for the past few months as demand for travel has evaporated. Alan Joyce has just announced details of Qantas’ post COVID-19 recovery plan which are extreme and brutal in terms of cost reductions and job losses.…
When the coronavirus travel restrictions hit shutting down the airlines Virgin Australia was always in trouble. Unlike Qantas, Virgin Australia had an unhealthy balance sheet. Lots of debt made Virgin Australia vulnerable. The airline undertook its expansion and development by borrowing billions of low-cost monies that was available. The company also pursued growth over profits…
Qantas is no stranger to external shocks. It endured September 11, the GFC, Bali bombings, earthquakes, tsunamis, rising fuel costs etc. But according to Alan Joyce the coronavirus induced aviation crisis is like none before it. It’s the single biggest shock that global aviation had ever experienced. Will Qantas survive? The answer is yes. He…
Qantas like all other airlines around the world are reeling as containment measures tighten to halt the spread of the coronavirus. Two days after slashing international flights by 90 percent, Qantas has announced it will suspend overseas services altogether by the end of March. The tipping point for Qantas was the new requirement for anyone…
Read More Coronavirus hits Qantas even harder with 20,000 workers stood down