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Friday, 22 February 2013

Qantas Profits from NOT Flying the 787

Qantas announced its six-month profit results the other day. Here's the key features as I see them:

Firstly, Qantas seems to make more money NOT flying the 787 than they would if they were flying it! A pre-tax net profit of $223m looks impressive, but more than half of that, $125m in fact, was a compensation payment from Boeing for the 787 delays. It seems it pays to be patient!

Secondly - good news folks! Qantas international operations only lost $91,000,000 these past six months! Woohoo!! At least that's better than the reported $171,000,000 loss for the same period last year.

For better or worse, for richer or poorer, in financial sickness & in health, Qantas management seems to be trying to do everything they can to navigate the iceberg-filled ocean of commercial aviation. I don't always agree with their strategic decisions & management style, but I have to accept that I'm only an inexperienced amateur observer, & they are the ones whose CV's say they know what they're doing. I have to accept that they're doing their best. And I have to be grateful that I don't go to bed with the multi-million dollar headaches that the QF chiefs do. 

I'm making a resolution to try & change my attitude towards Qantas, & adopt that which is shared by the executives, pilots, crews & all staff who actually love their jobs & give their 100% best. I don't know exactly how I'm going to do that, but I guess it's like learning to enjoy broccoli; you just have to try it.

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