Australian Politics Forum - The true state of Qantas

polite_gandalf

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The true state of Qantas
Sep 2^nd, 2014 at 12:09am

Ian Verrender has been providing the best analysis on the Qantas-Joyce saga. He peels away the spin that is being woven over the Qantas financial crisis, and reveals the true extent of the horror.

Quote:

With all the hullaballoo over its shock $2.8 billion loss last week, few analysts have bothered to dig any deeper into the accounts, preferring instead to rely on the assurances of a board and management that so far has done very little to inspire confidence.

...

Quote:

Qantas, however, has a serious liquidity problem. According to the accounts it filed last week, it has debts and other bills totalling more than $7.5 billion that need to be paid within the next 12 months.

But it doesn't come close to having enough cash - or assets that can be easily converted to cash - to cover that. With just $4.9 billion, even a financial alchemist would have trouble making that stretch.

Liquidity problems in any industry can quickly lead to insolvency. Airlines, however, are uniquely vulnerable.

http://www.abc.net.au/news/2014-09-01/verrender-is-qantas-too-big-to-fail/570912...

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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: The true state of Qantas Reply #1 - Sep 2^nd, 2014 at 8:03am Accountancy 101
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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: The true state of Qantas Reply #2 - Sep 2^nd, 2014 at 8:06am polite_gandalf wrote on Sep 2^nd, 2014 at 12:09am: Liquidity problems in any industry can quickly lead to insolvency The Qantas management must have attended the Labor Party's Treasurer school...
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Armchair_Politician Gold Member Offline Australian Politics Posts: 25115 Gender:	Re: The true state of Qantas Reply #3 - Sep 2^nd, 2014 at 1:25pm Part of Qantas' financial problems stem from their brutal price war with Virgin Australia. It's simply unsustainable.
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gone

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Re: The true state of Qantas
Reply #4 - Sep 2^nd, 2014 at 3:36pm

Armchair_Politician wrote on Sep 2^nd, 2014 at 1:25pm:

Part of Qantas' financial problems stem from their brutal price war with Virgin Australia. It's simply unsustainable.

Brutal price war? Are you kidding? They charge much more for domestic flights than their counterparts in the US, Europe and Asia. Qantas/Jetstar and Virgin have a price fixing kartell here and they make shitloads of money. They rob Aussie domestic travellers blind. They are just lying. Don't believe their numbers. All lies.

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greggerypeccary Gold Member Offline Australian Politics Posts: 131477 Gender:	Re: The true state of Qantas Reply #5 - Sep 2^nd, 2014 at 3:41pm Swagman wrote on Sep 2^nd, 2014 at 8:03am: Accountancy 101 To be sure, to be sure.
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: The true state of Qantas Reply #6 - Sep 2^nd, 2014 at 3:42pm And the retarded Leprechaun keeps getting his multi milllion dollar bonuses
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longweekend58

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Re: The true state of Qantas
Reply #7 - Sep 2^nd, 2014 at 3:57pm

Armchair_Politician wrote on Sep 2^nd, 2014 at 1:25pm:

Part of Qantas' financial problems stem from their brutal price war with Virgin Australia. It's simply unsustainable.

air fares are half what they were 3-4 years ago.. it aint hard to see where the problem lies. BTW, Virgin is losing massive money as well but has deeper pockets. If Qantas goes under, virgin will double its fares overnight.

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Bobby. Gold Member Offline Australian Politics Posts: 95270 Melbourne Gender:	Re: The true state of Qantas Reply #8 - Sep 2^nd, 2014 at 4:10pm The airfares are dirt cheap for overseas now. You end up paying more for a night in a hotel in NZ than the cost of the flight.
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: The true state of Qantas Reply #9 - Sep 2^nd, 2014 at 4:14pm Abbott said that it was pricing carbon that was destroying Qantas...another Abbott lie?
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fractalign Senior Member Offline Australian Politics Posts: 254 Gender:	Re: The true state of Qantas Reply #10 - Sep 2^nd, 2014 at 11:21pm I say if there are overseas carriers that can provide a service to Australia that is just as safe and reliable but at a lower cost then we should get rid of Qantas. Its not like we need a a national airline anymore. There are plenty of overseas carriers that are just as capable of doing the job.
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Armchair_Politician Gold Member Offline Australian Politics Posts: 25115 Gender:	Re: The true state of Qantas Reply #11 - Sep 3^rd, 2014 at 6:37am adelcrow wrote on Sep 2^nd, 2014 at 4:14pm: Abbott said that it was pricing carbon that was destroying Qantas...another Abbott lie? Did he say it was the ONLY thing? No.
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