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Wednesday, 30 January 2013
Thanks for the Money, Keep Your Airline
Qantas CEO Alan Joyce refused to do business with him; his predecessor & original Qantas mentor had become his nemesis. Within the boardrooms & hallways, there was talk that their former boss might just be coming back - not just as CEO again but somehow as owner of the airline! It's amazing how a 1.5% stake can get millionaire executives so paranoid & the media salivating for a good story.
But last week, the so-called "private investors consortium", which included former CEO Geoff Dixon, former Qantas senior executive Peter Gregg, advertising tycoon John Singleton, & possibly also retailing king Gerry Harvey, cashed in their syndicate shareholding of nearly 25 million shares for a reported $37.8 million. The net profit on their six-month or so investment was a cool $18 million.
"Thanks for the money. You can keep your airline now."
So Mr Joyce can breathe a little easier, while some of the richest men in Australia can just keep laughing all the way to the bank.