Qantas Suspends All International And Domestics Flights

Post by **bubbles** » October 31, 2011, 3:27 am

Qantas back up in the air some time today, Fair Work Australia have ordered that all industrial action to stop and they have a period of twelve weeks to sort things out, answer to jackspratt Qantas to all ozzie's is an icon like phar lap etc, but Qantas has never traded at a lost it is one of the most successfull airlines in the world making profit every year all they have to is some of the top people stop voting for more wages for yourselves share it around the real workers who actually work, also then could rduce fares and gain more passengers.
GO THE FLYING KANGAROO

Post by **fatbob** » October 31, 2011, 9:22 am

The facts are Qantas posted a $250 million profit last financial year, the cheif has granted himself a 71% pay rise, some not all were negotiating a 2.5% payrise in line with the inflation rate, thus to maintain the standard of living expected in Australia, if wages dont increase with inflation we will become a third world nation with low wages and they wont have to relocate to Asia, or else in Australia it will be only lower class, upper class and no middle class.
I beleive some of the current Qantas board are people who were directly involved in the MUA & Patrick dispute in 92, seems like the same tactics were deployed here. The present Government hasnt been part of this dispute, I beleive its a product of Howards workplace relations bill that did away with set award rates of pay.

Post by **jackspratt** » October 31, 2011, 9:29 am

I am not sure if Alan Joyce deserved an up to 71% pay rise - you would need to look at his contract to determine that.

However, I am certain he did not grant it to himself - it was decided on by the Qantas board, and backed by 96% of the voting shareholders at the recent AGM.

Post by **fatbob** » October 31, 2011, 9:34 am

He didnt ask for it I suppose, they offered it out of the goodness of there hearts.

Post by **trubrit** » October 31, 2011, 9:41 am

coxo wrote:He didnt ask for it I suppose, they offered it out of the goodness of there hearts.

Know nothing about Quantas but it is normal for a company CEO to have a percentage of the profits clause in his contract, so he wouldn't have to ask for it or the share holders to offer it. It would have been part of the salary terms offered to obtain his services in the first place .

Post by **BobHelm** » October 31, 2011, 3:53 pm

As usual Jimbo, a well considered financial business piece removing all the unnecessary emotion out of a situation.
& I am not saying that just because I agree with what you are saying, although that does help...

Unfortunately 'shareholder power' is a thing of the past with most companies. Few private individuals hold sufficient shares to influence company decisions in any company any more. Most of the majority shareholders are 'corporate owners' - large insurance companies, pension funds & banks. These people are merely employees themselves & are not investing their own money, but that of others. The cosy & mutually financially beneficial relationship that exists between these investors (the employees of the Financial institutions) & the Senior Employees of the quoted companies that they invest in means that the Board of Directors of most major organisations can have a free hand when deciding strategy & financial remuneration.

Post by **Aardvark** » October 31, 2011, 5:54 pm

Can't be Arsed looking for it now but apparently they have not payed a dividend for two years

If I were a Share Holder I would be rather peeved (to put it nicely) at the boared giving Mr Joyce such a generous offer of 71% and squabling over a 2% increase for it's Workers

Corporate Australia, hold your Heads in shame

Post by **jackspratt** » October 31, 2011, 6:04 pm

Aa then you would be at odds with the market, which I imagine has factored in that if these disputes end up being arbitrated, the unions will be the big losers.

Shares in Qantas have jumped 4.3 per cent to $1.61 after Fair Work Australia ordered that its grounded flights resume and industrial action cease.

http://www.abc.net.au/news/2011-10-31/m ... ap/3611222

The 2% pay rise is probably the least of Qantas's concerns, despite the fact that the workers are already way over the international market - which is where Qantas operates of course - price.

My understanding is that award conditions such as guaranteed jobs etc are what is concerning Qantas the most.

Post by **Bandung_Dero** » November 2, 2011, 3:25 pm

Bit off topic but this is exactly why airline pilots are paid so well and deserve every cent. Yesterday, no undercarriage and no injuries.
Link http://avherald.com/h?article=4456bd6b&opt=0

Post by **bubbles** » November 2, 2011, 4:21 pm

Exactly what you said Bandung they are worth every cent when they do there courses there is no error for mistakes they certainly deserve what are are asking for