Qantas sheds junk status

[webfact]

Qantas sheds junk status

SYDNEY: -- Qantas has finally shed its junk credit rating from Standard & Poor's.

The ratings agency slashed the airline's credit rating to junk status in December 2013 after Qantas warned of hefty financial losses and mass job cuts.

But with the airline having returned to profit following a massive restructure, S&P has returned Qantas's ratings to investment grade (BBB-).

"This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," Qantas chief executive Alan Joyce said on Tuesday.

Full story: http://www.smh.com.au//breaking-news-business/qantas-sheds-junk-status-20151117-46etg.html


-- Sydney Morning Herald 2015-11-17

[Seastallion]

""This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," "

The hard work to sack so many people to default on their mortgages, just so your shareholders can afford another high-end car or to put a wine cellar in the guest house.

[OMGImInPattaya]

I'm relieved to hear this...I was loosing sleep at nite worrying about this.

[impulse]

""This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," "

The hard work to sack so many people to default on their mortgages, just so your shareholders can afford another high-end car or to put a wine cellar in the guest house.

Gotta wonder what kind of bonus the CEO awarded himself. And how much of this "amazing turnaround" was sheer dumb luck when their fuel bill was cut in half by falling oil prices.

[jcisco]

""This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," "

The hard work to sack so many people to default on their mortgages, just so your shareholders can afford another high-end car or to put a wine cellar in the guest house.

Gotta wonder what kind of bonus the CEO awarded himself. And how much of this "amazing turnaround" was sheer dumb luck when their fuel bill was cut in half by falling oil prices.

CEO pay is the domain of the board, not the CEO.

[impulse]

""This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," "

The hard work to sack so many people to default on their mortgages, just so your shareholders can afford another high-end car or to put a wine cellar in the guest house.

Gotta wonder what kind of bonus the CEO awarded himself. And how much of this "amazing turnaround" was sheer dumb luck when their fuel bill was cut in half by falling oil prices.

CEO pay is the domain of the board, not the CEO.

You mean the board that's made up of CEO's from a bunch of other companies that all vote for each other's raises?

[waldroj]

QANTAS went through a lot of pain, and shed a large number of staff members. There was a lot of industrial action, and big questions raised about the performance of the CEO Alan Joyce.

It would appear that Joyce’s plans were successful (for the company), as it was recently able to return to profitability, and it more than doubled its share price (and pay shareholders a record dividend this year).

THAI Airways needs to take serious notice of what is required!

Unlike QANTAS, THAI Airways remains far too top heavy, and really needs to have a very sharp knife slice through its entire operations. Only then, it may have a chance of survival, and only then (just maybe) will it finally start to pay its shareholders some dividends again.

[tigermonkey]

QANTAS went through a lot of pain, and shed a large number of staff members. There was a lot of industrial action, and big questions raised about the performance of the CEO Alan Joyce.

It would appear that Joyce’s plans were successful (for the company), as it was recently able to return to profitability, and it more than doubled its share price (and pay shareholders a record dividend this year).

THAI Airways needs to take serious notice of what is required!

Bones.jpg

Unlike QANTAS, THAI Airways remains far too top heavy, and really needs to have a very sharp knife slice through its entire operations. Only then, it may have a chance of survival, and only then (just maybe) will it finally start to pay its shareholders some dividends again.

I really can't bring myself to believe that THAI has any interest in either the price of its shares or the offering of any dividend to shareholders. It is of far greater interest to them to maintain service to officials and the elite. Heaven forbid that the Thai flag carrier should degrade itself by becoming a Low Cost Carrier. If the share price drops far enough, I can see the majority shareholder ( Ministry of Finance) offering a cheap buyout to all the minority shareholders.

Survival is not an issue. It is Thai and will not be allowed to fail.

Some day in the future, if and when there is a pseudo democratic government, THAI may again offer to resell half its shares to an ever gullible public. Thailand loves to attempt to repeat history.

[Cats4ever]

""This is a welcome endorsement of the hard work we've been doing to build a stronger Qantas, guided by our financial framework," "

The hard work to sack so many people to default on their mortgages, just so your shareholders can afford another high-end car or to put a wine cellar in the guest house.

Gotta wonder what kind of bonus the CEO awarded himself. And how much of this "amazing turnaround" was sheer dumb luck when their fuel bill was cut in half by falling oil prices.

CEO pay is the domain of the board, not the CEO.

You mean the board that's made up of CEO's from a bunch of other companies that all vote for each other's raises?

$12 million last year. That is at least double the CEO of Singapore Air which is bigger and more profitable. For people from Melbourne, Q is junk if they wish to fly to Asia (save me from Jetstar).

[Lopchan]

Alan Joyce the CEO of Qantas received a $9.8 million dollar bonus ON TOP of his already huge salary. Other Qantas executives receive 2 and 3 million dollar salaries plus bonuses.

It's obscene when the people who do the hard work or if you prefer, the bread and butter work, get retrenched and lose everything.

Link below

http://www.news.com.au/travel/travel-updates/alan-joyce-gets-a-490-per-cent-pay-rise-pocketing-a-98-million-bonus--after-qantas-profits-turned-around/news-story/424c3a0956582c35de491f3f248a343e