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Qantas 2019-20 annual result: reading between the lines

Melburnian1

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Second rate airline!!! Love to see your list of first rate ones. ANZ had double QFs profit decline. SQ CX and EK all struggling much more. As for the product...
Here's some that beat QF for service on board, staff attitude, punctuality and fewer cancellations, and are arguably no less safe: AY EK JL KE LH PR QR SQ and that's just a few that quickly come to mind. Some may add VAd and VAi, and CX plus VS. I wasn't referring to profit or losses incurred because that's a shareholder measure, not a passenger one.

But we do disgress...
 

Melburnian1

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John Durie in 'The Weekend Australian' of 24-25 August 2019 commented that in the QF accounts there's $92 million of annual leave payments that is a liability.

It's a small amount compared to revenue (and profit) but has increased.
 

Himeno

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Good summary. The lack of aircraft on order to replace domestic aircraft (737, 717, F100 and even Dashes) is getting. A320s aren't the answer.
Why isn't the 100 odd A320s Qantas Group have on order an answer to the needed 737 replacement?

I'd expect a A320/A220 short haul fleet and 787/777 long haul fleet by late 2020s.
320s replace 737s
220-100s replace dash8s
220-300s replace 717s

787 -8s and -9s replace 330s and 747s
777 -8s and -9s replace 380s and 747s
 

Melburnian1

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Why isn't the 100 odd A320s Qantas Group have on order an answer to the needed 737 replacement?

I'd expect a A320/A220 short haul fleet and 787/777 long haul fleet by late 2020s.
320s replace 737s
220-100s replace dash8s
220-300s replace 717s

787 -8s and -9s replace 330s and 747s
777 -8s and -9s replace 380s and 747s
QF recently said:

'...As announced in early 2018, the first deliveries from the Group’s A320 Family order will begin with 18 A321LR aircraft for Jetstar, arriving between mid-2020 and mid-2022. These will operate a mix of domestic and international routes. The first A321 XLR would be available to the Group from the 2024 financial year onwards.

Following this update, the Qantas Group A320 Family order sits at 28 x A321 LRs, 36 x A321 XLRs and 45 x A320 NEOs, with continued flexibility around timing and structure in negotiation with Airbus.''

So any new QF domestic aircraft (as opposed to JQ) are at least five years away. By then, some B738s will be 22 or approaching 23 years of age. Getting elderly, and shows how QF has neglected its domestic operational fleet.
 

dajop

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Second rate airline!!! Love to see your list of first rate ones. ANZ had double QFs profit decline. SQ CX and EK all struggling much more. A
NZ is probably a fair comparison. SQ, CX and EK and not riding a waive of profitablity based on a domestic duopoly that represents what - 60-70% of their revenue? Not to detract from their achievement, but strip away domestic, and the discussion could be very different. But international is all not bad, good to remember the international network QF has helps drive the domestic profitablity too - through QF FF.
 

moa999

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By then, some B738s will be 22 or approaching 23 years of age. Getting elderly, and shows how QF has neglected its domestic operational fleet.
Other than refurbing them all recently (adding a row and new bathrooms), new seat coverings and currently adding WiFi.

AJ has also been clear that he wants 797 for domestic (particularly on the golden triangle) but it's also not yet available.

I'd expect QF will get the first of the group 321XLRs which will have a real international business class and be used on Perth and Asian routes, as well as early 797 deliveries.

The Dom fleet was always going to have a gap due to how many aircraft QF picked up in 2002-04 following Ansetts collapse and September-11
 

Melburnian1

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While Melbourne Airport in the end couldn't get its AFL predictions correct - the AFL ladder isn't 'full of foreign invaders' at the top, as only three of the eight finalists are non-Victorian teams - it impliedly criticises QF and VA below for capacity constraints and fare rises that suppress demand:

 

p--and--t

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Here's some that beat QF for service on board, staff attitude, punctuality and fewer cancellations, and are arguably no less safe: AY EK JL KE LH PR QR SQ and that's just a few that quickly come to mind. Some may add VAd and VAi, and CX plus VS. I wasn't referring to profit or losses incurred because that's a shareholder measure, not a passenger one.

But we do disgress...

Hmmm If you are putting LH and EK above QF in Y or Y+ (in my experience) we must be living in parallel worlds. EK is currently on my never again list after 5 out of 5 crap flights from a number of perspectives.
 

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