AFR Article - Joe Aston goes BAM!

[OATEK]

The crusade continues:

"Now I know I’m late to this, but Joe Aston has written a book. It’s going to be called The Chairman’s Lounge, and it’s about Qantas under Alan Joyce."

https://www.theaustralian.com.au/arts/review/do-we-need-more-books-by-white-male-writers/news-story/0b3a2819b555dcd9c1ca5a04a83acf11

 

[jrfsp]

Qantas pilots strike. The more things change, the more they stay the same - Michael West

Pilots at Qantas' subsidiary Network Aviation went on strike Thursday, causing disruptions for thousands of passengers.

michaelwest.com.au

Pretty damning for QF woes!
If true the 35% on time performance for the A330 fleet is shockingly bad !

 

[#flying]

Qantas pilots strike. The more things change, the more they stay the same - Michael West

Pilots at Qantas' subsidiary Network Aviation went on strike Thursday, causing disruptions for thousands of passengers.

michaelwest.com.au

Pretty damning for QF woes!
If true the 35% on time performance for the A330 fleet is shockingly bad !

I wouldn’t necessarily trust that. It says the Finnair 330s have a 100% on time record. The on time arrival stats for QF291 SYD-SIN suggest otherwise…

 

[SYD]

I wouldn’t necessarily trust that. It says the Finnair 330s have a 100% on time record. The on time arrival stats for QF291 SYD-SIN suggest otherwise…View attachment 370675

I read that bit as someone suggesting that the AY A330s are better maintained and therefore run on time. Never let the truth get in the way of a story.

 

[tdimdad]

The Australian has a headline 'The $384m blow to the Qantas brand' today. Anyone with a subscription to the paper, what's the gist of the article? And how big is the damage compared to the total value of the brand (as they'd show it to investors)?

 

[Kerrodt]

From $2.7bn down to $3.1bn.

The figures are calculated by some group called “Brand Finance Australia“ and they give no details on how they calculate these numbers. I doubt that it would be following conventional finance and valuation methodologies. To me it appears that this organization churns out this guff to create headlines and attention to themselves in an attempt to generate PR and marketing business for themselves.

 

[CaptJCool]

The Australian has a headline 'The $384m blow to the Qantas brand' today. Anyone with a subscription to the paper, what's the gist of the article? And how big is the damage compared to the total value of the brand (as they'd show it to investors)?

Cause prices fall like


Vote with your feet people

I did
Their domestic J Is still at the low figures they’ve had to drop down to since August 23

Their international J/F are still way too high
The recent sale figure of $8,999 / $13996 from Sydney to London are $3,000 more than the lower fares of the competition

 

[HSB44]

View attachment 375638

Cause prices fall like
View attachment 375639

Vote with your feet people

I did
Their domestic J Is still at the low figures they’ve had to drop down to since August 23

Their international J/F are still way too high
The recent sale figure of $8,999 / $13996 from Sydney to London are $3,000 more than the lower fares of the competition

Yeah but
Pyjamas
Neil Perry

 

[tdimdad]

So that's a little dip in an imaginary value of the company. Wouldn't change much things, I hazard to guess, other than reiterating how much they are investing in a better customer experience. And now they also have a new font as a part of their brand pack.

 

[Quickstatus]

I would have thought that The Australian would not have stooped to such rubbish.

 

[drron]

Yeah but
Pyjamas
Neil Perry

I agree. Two more reasons not to consider QF.

 

[RooFlyer]

Regarding the brand value, shouldn’t that be under intangibles on the balance sheet?

@CaptJCool ?

Admittedly, it’ll be at directors value and of course the directors think everyone loves them more than before.

Their international J/F are still way too high
The recent sale figure of $8,999 / $13996 from Sydney to London are $3,000 more than the lower fares of the competition

QR/AY business to Helsinki $6000. My travel agent says there’s no apparent time limit on this fare but it might disappear any time.

Yet, you’ve got all those lemmings who stump up thousands more than they need to and enjoy their Neil Perry green leaf.

 

[p--and--t]

Imaginary figures plucked from the air or perhaps via a mystical formula with the help of a Harry Potter wand?

Surely share price is the sorta more accurate measure of perception of the company performance.

 

[jase05]

Yet, you’ve got all those lemmings who stump up thousands more than they need to and enjoy their Neil Perry green leaf.

Because they need those QF SC’s to maintain status and the QR flight's to/from Australia earn practically nothing thanks to the QF tax applied to other OW airlines

 

[RooFlyer]

Because they need those QF SC’s to maintain status and the QR flight's to/from Australia earn practically nothing thanks to the QF tax applied to other OW airlines

And the problem is?

 

[CaptJCool]

Regarding the brand value, shouldn’t that be under intangibles on the balance sheet?

@CaptJCool ?

Admittedly, it’ll be at directors value and of course the directors think everyone loves them more than before.

well one can argue the brand value diminishes as the company buys back its own shares - thus making some people multi-millionaires

the Goodwill on the Balance sheet hasn't changed from 2022 to 23 ($270 million)
so from an accounting perspective this is "not on the books" - perhaps more a Vibe... from within the broader travel industry

 

[RooFlyer]

I found the Australian Accounting Standard (1996) for goodwill (my introduced term) and "internally generated goodwill" (as the Qantas brand I think is) should not be recognised on the balance sheet (4.1.1).

It now looks to this non-accountant that the brand would be accounted as a intangible asset and, reading the standard, I'd better leave it there .

And then there is "Qantas Frequent Flyer" name.

 

[Kerrodt]

I found the Australian Accounting Standard (1996) for goodwill (my introduced term) and "internally generated goodwill" (as the Qantas brand I think is) should not be recognised on the balance sheet (4.1.1).

It now looks to this non-accountant that the brand would be accounted as a intangible asset and, reading the standard, I'd better leave it there .

And then there is "Qantas Frequent Flyer" name.

The figures quoted by Brand Finance Australia are not calculated in accordance with any of the accounting standards and do not appear on the Qantas balance sheet in any way. It is not an intangible on the Qantas balance sheet as you imply. They are figures calculated by Brand Finance Australia according to whatever ideas they have On how it should be calculated.

To suggest or imply that Qantas are involved in the process with Brand Finance Australia or have internally generated this value and included it on their balance sheet is entirely incorrect.

 

[RooFlyer]

To suggest or imply that Qantas are involved in the process with Brand Finance Australia or have internally generated this value and included it on their balance sheet is entirely incorrect.

And I'd agree. I was merely musing, given brand Finance have come up with a figure, how Qantas accounts for the value of its brand.

If its not goodwill, or an intangible, how do they account for it? If Qantas suddenly changed its name to Wedgetail or something, you'd have to think that the share market value of the company at least would fall quite a lot, demonstrating that the 'Qantas' name has real value, therefore an asset, which I think is self evident anyway.

 

[Happy Dude]

Because they need those QF SC’s to maintain status and the QR flight's to/from Australia earn practically nothing thanks to the QF tax applied to other OW airlines

Do they need status if they're paying to fly J though?