Another airline credit card gouge

[drron]

ASX Code: CAB. What does any publicly listed company do with profits?

Re invest it

 

[dajop]

Re invest it

That and pay CEO's, execs and directors large renumeration packages.

 

[medhead]

Seems rather big, don't you think?

What do they do with the money?

It seems massive, but that is number they had in the the Fin Review. (I'll double check tomorrow). Cabcharge did claim that they don't get all of the 10%, which might be right, but it is excessive compared to the cost of providing the service - cost is no more that 5% of the service fee, that is closer to 0.5% of the taxi fare. :shock:

The other shocking thing is that they collect this $113 mil service fee, but the profit is only $63 mil. So they are burning $45mil to run the buisiness. Of course, they admit they have been giving away freebies, designed to kill any competition. $45 mil is a lot of freebies.