Episode 201: Catch me I’m Falling…

Oh no, Grant’s fallen down a well as he tried to see just how low the Qantas share price has gone! Fortunately Steve was able to pull him out with a bucket & they were able to discuss:

  • Qantas share price plummets to $0.97c after Allan Joyce gives the shocking news that profit for 2011/12 will only be $50 million to $100 million, a far cry from the $230 million to $240 million previously expected by analysts. Not only is it rather bad news, it’s also being announced on the 5th of June, less than one month before the end of the financial year.
  • Singapore Airlines have increased their daily frequency to London in time for the Olympics
  • Etihad have acquired a 4% stake in Virgin Australia and want to take it up to 10%
  • Singapore Airlines’ low cost carrier “Scoot” flew its first flight into Sydney (code TZ002) using one of SIA’s original 777s (9V-OTC ex 9V-SQC) that’s already been branded the “Flying Banana”
  • Qantas Defence Services completes conversion work on the RAAF’s fifth & last KC30A MRTT in Brisbane
  • Omega Air Tanker 707 N624RH (ex RAAF A20-624) has been refurbished, given quieter engines and is now contracting to the RAAF based at Richmond
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