Huge Qantas losses -fares being immediately increased by 20%

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  • cwoodward
    Participant

    Over the last 3 years it is being reported that Qantas have incurred losses amounting to over US$6 Billion and in the current year 2022 it seems that the group has lost a further (estimated) US$1.3 billion.

    In order to save the group it seems that all fares are being raised by 20% immediately.

    Following the announcement there have been many calls for the long term Irish CEO Alan Joyce. The 14 year veteran has faced several calls for his resignation previously notably in 2011 when he grounded the airline for several days during a pay dispute with staff.

    According to the AU media public and government sentiment is running against Joyce not only due to these very heavy losses but also because of the reportedly shambolic way that the airline has been run since Australia reopened its borders after Covid.

    1 user thanked author for this post.

    AJDC
    Participant

    Similar to most airlines post pandemic.


    cwoodward
    Participant

    Most ? I don’t believe so.
    Qantas is among the very worst and is in serious financial trouble it seems.

    1 user thanked author for this post.

    rferguson
    Participant

    This is a great news article summing up the situation with QF:

    https://www.abc.net.au/news/2022-08-29/brief-history-of-qantas-ceo-alan-joyce/101381056

    A very interesting read.

    1 user thanked author for this post.

    Tom Otley
    Keymaster

    It’s a great read – I’d forgotten a lot of that, and didn’t know the rest !


    AJDC
    Participant

    I meant regarding increasing of fares.

    1 user thanked author for this post.
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