The Irish C**t finally goes after raking in 24 Million a year...

[EA01]

....and reducing a once iconic Australian brand to mud....9th to 40th trusted Australian brand....wel done, the board thinks you did a great job, the rest of us fly with anyone but....ffs

[OneHungLow]

I assume you are referring to Alan Joyce?

Irish man Alan Joyce is stepping away from his role as chief executive officer of Australia's flagship carrier, Qantas Airways Ltd.

He will be replaced by the company's finance chief, Vanessa Hudson, who will become the first woman to lead the century-old airline.

Ms Hudson will in November take over from Mr Joyce, whose 15 years in the job has made him one of the longest-serving current CEO of a major Australian company, and a high-profile figure in the global aviation industry.

Mr Joyce, 56, served as Qantas CEO during turbulent times and is credited with navigating the airline through the 2008 financial crisis, the covid-19 pandemic, fluctuating fuel prices, and a bruising market share battle with Virgin Australia domestically and international rivals such as Emirates and Etihad Airways.

https://www.irishexaminer.com/news/arid-41129524.html



His successor faces an uphill battle apparently.

Vanessa Hudson has been named Qantas’ new CEO. She was chosen from a pool of around 40 candidates from all over the world and will make history as the national carrier’s first female CEO in its 103-year existence.

The board “firmly feels” that Ms. Hudson, who has worked for the organization for 28 years in several key roles, is the “right person to take Qantas forward,” according to Qantas Chairman Richard Goyder.

The Transport Workers Union (TWU) claims she faces an “uphill” road to “rebuild” the corporation as she assumes the top position at a time when Qantas’s reputation requires improvement.

[Pinky the pilot]

I am still trying to find a suitable word or words to describe such a wage packet.

So far, the only description I can come up with is 'an obscenity.'

But somehow I think that is simply inadequate.

[OneHungLow]

Alan Joyce a 'lightning rod' for discontent
But while Joyce's tenure looks set to end quietly, it began in very different circumstances.

It's easy to forget the baptism of fire that greeted Joyce when he stepped up from running the company's rapidly expanding budget offshoot Jetstar to directing the whole show.

He took the controls in November 2008, as the global financial crisis raged and large corporations globally were falling over left, right and centre, as demand slumped and access to cheap and easy credit dried up.

Just 18 months earlier, when cheap money was still plentiful, Qantas was within a whisker of being taking private by a consortium offering an $11 billion buyout.

Joyce has since said he believes the airline might have collapsed under the weight of debt had that deal gone through.

Instead, the new CEO had to deal with a billion-dollar loss in revenue as most of the developed world fell into recession.

However, the airline's first journey into the red under Joyce's tenure was self-inflicted, as the company infamously grounded its fleet globally in an effort to bring an industrial dispute with its staff to a head.

Is Alan Joyce on his final flight?
Despite a consistent record of alienating all three key elements of the business he heads, Qantas boss Alan Joyce somehow has remained at the controls of the airline for the best part of a decade and a half, writes Ian Verrender.

It posted a full-year loss of $245 million in financial year 2012, after that fleet grounding in 2011.

Joyce would argue it was short-term pain for long-term gain, as he sought to reduce the pay and conditions of thousands of employees who had been with the company since it was owned by the federal government.

More short-term pain followed for shareholders in the 2014 financial year, when Qantas bled a loss of more than $2.8 billion — bigger than any of its losses during the COVID pandemic.

The cause was a massive write-down in the value of its international fleet and a price war with Virgin Australia to maintain its dominant domestic market share.

After that, things started to look up for a while, with five straight years of profits and some fairly rare dividend payments to shareholders.

Then COVID hit, and the airline slumped back into the red — a position it only recovered from with the post-pandemic travel boom driving a billion dollar half-year profit in its most recent results.

Full article here... https://www.abc.net.au/news/2023-05-02/ ... /102291528


Joyce's take-home pay last financial year was $2.27m, up from $1.98m the year before. On top of that base salary, shareholders voted overwhelmingly to award Joyce bonus performance rights worth about $4m, which can be vested in August next year.

His cumulative salary might have been $24 million over the period of his surprisingly long tenure at Qantas but he never earned the headline number of $24 million quoted here per annum!

Airline chief will receive $4m in shares on top of his $2m-plus salary, despite customer fury at service failures

https://www.theguardian.com/australia-n ... ext%20year.

As for the rest he certainly looks like the usual oily looking overpaid executive type of worker bashing tick!

[EA01]

How to take an Iconic brand and trash that brand so comprehensively is....baffling....

I'm eligible for some very real benefits with QF, and simply will have nothing to do with them now....

From TOP, pretty accurate. I've heard it said the Chairman's lounge is soft corruption on another level.


She is worse than an accountant, she’s an auditor - as the old joke says: auditors are people who don’t have enough personality to be an accountant.

‘’That said, everything she sees is measured in dollars and cents and her only tool, being a bean counter, is the pencil. She will cut costs even further than Joyce did because cost cutting is all she knows.

The Qantas strategy for 40 years has been simple:

1. Trade on the innate patriotism of Australians by dosing them with soft feel good nationalism in very effective marketing campaigns.

2. Develop very effective Government lobbying capabilities using (1) + freebie like the chairman’s lounge. That allowed QF to run a virtual monopoly for forty+ years.

3. Screw every last drop of blood from Australian travellers: domestic and international on the strength of its reputation and monopoly position.

And screw us they did. I was paying $7000+ for two economy tickets to europe in the 70’s when American teenagers were choking London on weekends - they were paying a few hundred dollars in airfares while we were forced to pay about twice the going rate.

Dont get me started on their Sydney-centric bias.

Qantas has been an unmitigated disaster for the Australian economy. We are a trading country. We need cheap and copious travel options to everywhere, both for ourselves and international visitors. Hell will freeze over before Qantas delivers anything of value to Australia.

In the 70’s, I would automatically make QF my first choice, such was their market position.

Since a disastrously expensive and bad experience of Qantas business class circa 2001 and new appreciation of just how rotten and expensive compared to others, and the negative effect Qantas was having on the Australian economy, I gave them away except when forced.