High Court reveals every current judge is a member of Qantas' Chairman's Lounge

[justinbrett]

Whilst QF shares have taken a tumble recently, they're still trading higher than at their lowest point in 2019, and whilst they haven't fully recovered from their 2019 high - they're doing better than other major airlines like NZ, AA, UA & IAG that haven't come close to recovering their pre-covid prices.

The true story won't be known for months as to whether the prices continue to decline or whether they bounce back.

 

[Quickstatus]

does not seem to impact their decisions, at least in this instance.

The proper test is not post facto

share-buy-back has to be approved

And AJ final golden handshake?

 

[Quickstatus]

The true story

Would perhaps include:
Accounting for the now immortal flight credits, ACCC case, TWU suing for costs, and Fed Cort imposing penalties and separately compensation for illegally sacking the workers. An emboldened TWU, Change in the operational culture which must involve a rise in cost of business, accounting for new aircraf in a high interest rate environment. And QR potentially being allowed more flights?

And then there is the Australian economy....

 

[RooFlyer]

Whilst QF shares have taken a tumble recently, they're still trading higher than at their lowest point in 2019, and whilst they haven't fully recovered from their 2019 high - they're doing better than other major airlines like NZ, AA, UA & IAG that haven't come close to recovering their pre-covid prices.

Interesting, but overseas comparisons are pretty irrelevant to Australian investors; I guess there may be a 'Global airline' fund available somewhere . How's QAN doing compared to the Aussie market?

22% difference over the time period you selected, although you could say not terribly, if you consider the segment the airline is in and how much it dropped in the pandemic; much of the gain in the past year as everyone saw the load factors and fare prices . But I'm an investor - I don't care - show me the money, or at least the capital gain!



But the bad news has come, perversely, after its very large profit.

 

[justinbrett]

if you consider the segment the airline is in and how much it dropped in the pandemic; much of the gain in the past year as everyone saw the load factors and fare prices

Which should have also been reflected in other airline groups - but wasn't. Not by a long shot - especially with their closest regional competitor NZ which is trading lower now than even their 2020 low.

I know you never like to look at Qantas in relation to other airlines, but doing so shows context of what similar companies are going through under similar conditions.

As for being a good investment - I think it's been proven time again that any airline is a terrible investment.

But the bad news has come, perversely, after its very large profit.

Sure, but nobody invests for 30 days. Plenty of other drops of that magnitude in recent years that later recovered (eg June 2022). It's far too early to say what the future price will be.

 

[offshore171]

Even the watchdogs are in on the action:

5 of 7 ACCC commissioners have been gifted CL memberships.

Senior public servants responsible for regulating Qantas accepted Chairman’s Lounge invitations

Public servants from the Australian Competition and Consumer Commission and the Civil Aviation and Safety Authority have accepted membership to Qantas’ invite-only Chairman’s Lounge, while their agencies were responsible for regulating the airline.

www.abc.net.au

 

[flyingfan]

I personally don't reckon QF would yank CL access from judges or politicians ruling against or criticising them. (AFR distribution another matter.)

Maybe by some miracle Hudson will agree perceptions aren't tenable, end CL access for pollies and give it to P1s instead

 

[MARTINE]

Even the watchdogs are in on the action:

5 of 7 ACCC commissioners have been gifted CL memberships.

Senior public servants responsible for regulating Qantas accepted Chairman’s Lounge invitations

Public servants from the Australian Competition and Consumer Commission and the Civil Aviation and Safety Authority have accepted membership to Qantas’ invite-only Chairman’s Lounge, while their agencies were responsible for regulating the airline.

www.abc.net.au

Maybe re-name the thread - who doesn’t have (whoever is)CL membership?

 

[RooFlyer]

(AFR distribution another matter.)

Not any more.

 

[Ambo]

Even the watchdogs are in on the action:

5 of 7 ACCC commissioners have been gifted CL memberships.

Senior public servants responsible for regulating Qantas accepted Chairman’s Lounge invitations

Public servants from the Australian Competition and Consumer Commission and the Civil Aviation and Safety Authority have accepted membership to Qantas’ invite-only Chairman’s Lounge, while their agencies were responsible for regulating the airline.

www.abc.net.au

Who wants to bet the the Commissioner, Deputy Commissioners and the CEO of the NACC are all now memebers of the the CL?

 

[RooFlyer]

What would be fascinating to know is how and when particular 'names' are put forward for CL membership.

 

[TheRealTMA]

What would be fascinating to know is how and when particular 'names' are put forward for CL membership.

Why? Who really cares if senior execs etc have access.
Think of it this way, it means you won’t find yourself sitting next to Pauline Hanson, or Bob Katter, or.. in the QP!

 

[Mr H]

It'll be the pollies that keep the CL afloat. The CLs need a certain amount of traffic to justify themselves and I'm not sure the captains of industry and celebrities fly enough to provide that traffic.

I am sure QF is not crass enough to offer CL membership in return for specific favours. It is more subtle than that - just predisposing influential people to be in a positive mood whenever they think about QF - or perhaps creating among those people of a general sense of obligation.

 

[justinbrett]

Why? Who really cares if senior execs etc have access.
Think of it this way, it means you won’t find yourself sitting next to Pauline Hanson, or Bob Katter, or.. in the QP!

I've seen Bob Katter in the BNE J lounge a few times.

 

[CaptJCool]

What would be fascinating to know is how and when particular 'names' are put forward for CL membership.

that sounds like a Sunday morning debate

I wonder if that's a good topic for sunday at AFF LOL

 

[TheRealTMA]

I've seen Bob Katter in the BNE J lounge a few times.

Obviously the BNE CL is too small for the hat!

 

[Must...Fly!]

Obviously the BNE CL is too small for the hat!

Don't blame the hat for the size of the head it has to sit on...

 

[Danger]

How can you even compare the membership of sitting Federal Members with someone’s son who is granted membership just because they are someone’s son.

I'm sure I fully understand your question (assuming it is a question).

The issue with the son's membership isn't that the son might influence anything but obviously the fact that under what we understand to be the qualification for Chairman's Lounge 'membership', the son wouldn't go anywhere near qualifying. So, why was he given membership? Obviously because who his father is.

Qantas has done the Prime Minister a favour - in the case of the son, nothing to do with public figure privacy, or security or a big customer of the airline. A favour pure and simple. Of all the CL 'favours for influence' optics, this is probably the worst kind.

The "qualification" for membership really isn't known, only speculated about, as far as I'm aware.

I take your point about optics, which are extremely important in politics, but I fail to see why McKenzie and some of her colleagues have made such a big deal of it, particularly as I feel it's really brought a lot of what I'm sure is unwanted attention on their own membership.

Qantas is a private company and can gift membership to whoever it sees fit. If it gives the chairs of the ACCC and ASIC and Airservices Australia and Casa ... membership, that's up to it. From my perspective, potential issues arise with those who accept it.

It may very well have been a favour from Qantas to Albanese to give his son a membership, but I think it's a storm in a teacup. The poor kid (young adult) is a grad who probably flies maybe a dozen times a year (when he's not on the VIP). I'm sure there are plenty of people who have membership which would cause many of us to raise our eyebrows.

 

[Seat0B]

Maybe re-name the thread - who doesn’t have (whoever is)CL membership?

Not really laughing with the emoji likes - more a case of it’s funny because it’s true!

 

[Seat0B]

Who wants to bet the the Commissioner, Deputy Commissioners and the CEO of the NACC are all now memebers of the the CL?

Highly likely given this declaration that the ACLEI Commissioner had a CL membership.

Australian Commission for Law Enforcement Integrity | National Anti-Corruption Commission (NACC)

www.nacc.gov.au

The ACLEI was absorbed into the NACC on 1 July and the ACLEI Commissioner became a Deputy Commissioner of the NACC. i could not find a gift and benefit register for the NACC as yet. This would be a great question for a journalist to pursue.