Qantas CEO Alan Joyce has become a major drag on a prime ministership with alarming parallels to Qantas flights.
In that same year, Joyce commissioned and issued a Deloitte Access Economics report detailing “the Qantas Group’s contribution to the Australian Economy”. Unsurprisingly, it is splendiferous, finding that Qantas is an economic keystone which contributes 0.7 per cent of gross domestic product. Why did Qantas feel the need to issue such a document? Well, let’s just say it’s come in handy over the years.
. Now that Qatar wants to add more flights, maybe reducing the cost of airfares a bit, Joyce is arguing that competition would kill the flying kangaroo and probably plunge the nation into penury. Don’t forget that 0.7 per cent of GDP! Then Qantas was forced by public outcry to extend the life of credits for flights cancelled during the pandemic. They had been due to expire on December 31, meaning Qantas customers would have forfeited their money to the airline’s bottom line. The Australian Competition and Consumer Commission is also alleging Qantas sold tickets it knew it couldn’t honour, and ACCC chief Gina Cass-Gottlieb wants the penalty to be something that can’t be absorbed as a regular cost of doing business.
Qantas’ troubles have leapt out of the financial press and into the mainstream because they’re hitting regular folk where it hurts: right in the cost of living.Meanwhile, in bad news for Canberra, Alan Fels, the former head of the competition watchdog, is making sure that politicians can’t slink out of the Chairman’s Lounge unimplicated. Fels told ABC radio this week, companies should be looking after shareholders but the government should be looking after consumers, not companies.
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