Episode 212: Qantas Reports First Loss Since Going Public

It’s a big news week with the Australia Desk covering a number of stories:

  • Qantas is big in the news with:
    • Qantas reports a $244m loss (their first since becoming a public company)
    • Alan Joyce will not be getting his $2.7m bonus & will have to get by on just his $2.3m salary
    • Joyce says he expects Qantas will retain its 65% share of the domestic market
    • Qantas cancels their 35 firm 787-9 orders but are continuing with their order for 15 787-8s
    • Qantas share price rises due to cash back from Boeing but drops again when the market realises how expensive the 767s & 747s are to operate
  • Royal Australian Air Force proceeds with purchase of jammer pods & equipment to run some of its Super Hornets as EA18G Growlers with an operational date of 2018 (the same year as the RAAF’s F35 are due)
  • Griffith University is partnering with Cathay Pacific so that graduates of Griffith’s pilot course who have “the right stuff” can enter Cathay’s cadet program
  • Etihad Airways now has control of 6.1% of Virgin Australia‘s stock & hope to get to 19%
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