Qantas Equity $1.9B Raising and Announcements June 2020

[Melburnian1]

Would be good in the future to take grand-kids to see a relic of third golden era of flying (aka first fitouts of Flying boats, B747 then the A380) before we dropped back to smaller "economical" planes.

In time, won't OQA be at Longreach Qld and (say) OQB at Wollongong NSW?

 

[p--and--t]

In time, won't OQA be at Longreach Qld and (say) OQB at Woolongong NSW?

If they all get shipped to a Californian desert and get left there for three years, then it could be very pricey to get one back in shape for a trip back to a museum.

 

[ja1]

QLD premier may well lose the election, there has been lots of corruption in her government, the regional tourism heavy parts of QLD have basically aligned to vote her out and the opposition is mounting a campaign on opening borders saying the QLD gov is crushing the state's economy and should be working more closely with the national cabinet.

But she is happy to shell out $200M to VA2, but also at the same time create so much uncertainty they can't fly anywere.... great use of taxpayers money

RE: NSW I'm sure the 3 Victorians that watch their failing rugby league will be duly devasted.

But dragging it back on topic, of course all the border closures and patchwork openings will be causing the QF and VA2 reincarnation plans a headache, all airlines I suppose...

While not great for QAN and VA1 (since VA2 hasn't gotten off the ground.. and is it more likely to be VA1.2?) I can't imagine they didn't have contingency planning that accounted for worst case scenarios rather than best case ones.

If QAN's burn rate is $40m/week (and VA's was reportedly $10M/week?) it would be interesting to know what it looks like in July 2020.. and what this means for both airlines schedules and routes..

I guess at least QAN has in its favour that an equity raising (at $4 rather than $2) doesn't mean a long tail of interest payments except that I assume this means they have to a chunk of that money to continue to pay dividends..

In other news, Jake Seven is campaigning to bring back Campbell Newman because that worked out so well

 

[moa999]

AFR reports that the book has been covered.
(Ie. The underwriters have sufficient demand)

 

[jakeseven7]

In other news, Jake Seven is campaigning to bring back Campbell Newman because that worked out so well

I feel like Campbell's soup for dinner tonight now

 

[Astroboi82]

It’s a sad day hearing this, I feel sorry for all the people that will lose their jobs.

 

[Anna]

Can anyone please tell me in plain English what this means - 'the anticipated decline in [fuel] consumption to June 2021 will lead to the non-cash recognition of hedge ineffectiveness of $550–$600 million in the FY20 statutory result'.

I think it means a loss of $550-600m for not buying fuel they don't need, but sorry I'm only educated to Masters degree level so obvs I shouldn't expect to be able to understand a media release, /sarcasm off.

 

[Melburnian1]

Can anyone please tell me in plain English what this means - 'the anticipated decline in [fuel] consumption to June 2021 will lead to the non-cash recognition of hedge ineffectiveness of $550–$600 million in the FY20 statutory result'.

I think it means a loss of $550-600m for not buying fuel they don't need, but sorry I'm only educated to Masters degree level so obvs I shouldn't expect to be able to understand a media release, /sarcasm off.

It may also be a reference to how (because demand worldwide has been lower) that QF had 'bet' (hedged) that the price of aviation turbine fuel would be higher than has truned out to be the case, and that the A$ would be lower.

So it's 'lost the bet' and has therefore to take a non-cash charge against its accounts.

An accountant may wish to correct me.

 

[Captain Halliday]

However today the NSW Health Minister said that rugby tickets wouldn't be sold to Victorians.

Source?

He did say this:
“They’re not getting tickets, that’s the simple answer. They [the AFL and NRL] have satisfied me they have made all necessary measures and steps to ensure people who will be entering the stadium will be people who are from Sydney.”

But I can’t find any reference to rugby.

 

[Melburnian1]

Source?

He did say this:
“They’re not getting tickets, that’s the simple answer. They [the AFL and NRL] have satisfied me they have made all necessary measures and steps to ensure people who will be entering the stadium will be people who are from Sydney.”

But I can’t find any reference to rugby.

I'm not sure why I have to clarify, but I was paraphrasing.

Here's a quote from 'Newcastle Herald' (though I think 'now' should be 'not'


The move came as NSW Health Minister Brad Hazzard revealed he had obtained assurances from both the NRL and AFL that they would now allow Victorian fans into games in NSW due to concern about the coronavirus spike in that state.
"The only people that will get in will be members of the clubs or season-ticket holders, where we'll know all their details," V'landys told AAP on Thursday.

 

[Captain Halliday]

I'm not sure why I have to clarify, but I was paraphrasing.

Here's a quote from 'Newcastle Herald' (though I think 'now' should be 'not'


The move came as NSW Health Minister Brad Hazzard revealed he had obtained assurances from both the NRL and AFL that they would now allow Victorian fans into games in NSW due to concern about the coronavirus spike in that state.
"The only people that will get in will be members of the clubs or season-ticket holders, where we'll know all their details," V'landys told AAP on Thursday.

I found that quote in a few stories in a google search. Thanks.

I’m trying to locate the reference to rugby specifically given it doesn’t resume until next week.

As you’d mentioned it up thread I’d hoped you could point me to it where you saw/heard it.

 

[Melburnian1]

I found that quote in a few stories in a google search. Thanks.

I’m trying to locate the reference to rugby specifically given it doesn’t resume until next week.

As you’d mentioned it up thread I’d hoped you could point me to it where you saw/heard it.

Earlier today in 'The Australian' feed online (I am a subscriber). Hard to find now. Always possible if I was paraphrasing that I didn't quite get the gist of the fine detail.

 

[Captain Halliday]

Earlier today in 'The Australian' feed online (I am a subscriber). Hard to find now. Always possible if I was paraphrasing that I didn't quite get the gist of the fine detail.

Ok. We are off topic anyway, so I’ll keep looking.

Thank you.

 

[serfty]

I’m trying to locate the reference to rugby specifically given it doesn’t resume until next week

For many Australians, "Rugby" means something that is not AFL or soccer.

i.e. NRL can mean Rugby for them and most wouldn't know or care about any 5 team comps starting next week.

 

[GoldCanyon340]

I am a bit surprised that no one has made a major issue of the fact that with the A380s out of sight and perhaps gone forever, F is also gone!

Yep. Actually a major loss as far as I am concerned. I have spread the love between QF, EK and BA but the loss of QF F (nice bed) is a serious blow.

 

[Melburnian1]

Yep. Actually a major loss as far as I am concerned. I have spread the love between QF, EK and BA but the loss of QF F (nice bed) is a serious blow.

Without wishing to go OT, is it not the case that F as a class has been declining (in the number of airlines/aircraft that offer it) for years and that the pandemic is highly likely to hasten this trend?

 

[GoldCanyon340]

Without wishing to go OT, is it not the case that F as a class has been declining (in the number of airlines/aircraft that offer it) for years and that the pandemic is highly likely to hasten this trend?

I have contemplated this in my Adelaide Hills isolation. It's an intersting topic that probably deserves another thread/ It could of course go in the other direction where J is ripped out and Y becomes the norm with a token one or two rows of F. Back to the 1960s as it were

 

[AustraliaPoochie]

Without wishing to go OT, is it not the case that F as a class has been declining (in the number of airlines/aircraft that offer it) for years and that the pandemic is highly likely to hasten this trend?

Service declining (maybe so), but its still, you know, the toppest of the top notch on the plane, and the lounges.
I can't compare the decline in F service, but when I flew on EK F as a QFF, it had the feeling of wow, so this is what F is like.
Granted I have not flown QF F, but still, the F lounges, SYD was very good (flew EK F SYD - CHC).
Yes, AJ is in a hard spot, but if I were him, rather than sack the 6000, I would put those who want to stay, on LWOP, with the option to return, rather than kick them all off, esp those who want to stay, because in a few years time, there will need for staff to help QF grow, esp if VA (OT) becomes a total LCC without a FF program, (**personally**, I see it as very likely).
What other option, in the future, ah, maybe lets choose SQ F.

 

[justinbrett]

Sad fallout for Newcastle is the entire JQ NTL base is closing. Good thing they are about to open NorthConnex as looks like we’ll be using SYD more with an inevitable reduction in routes & frequencies - that wasn’t high to begin with.

 

[ja1]

Can anyone please tell me in plain English what this means - 'the anticipated decline in [fuel] consumption to June 2021 will lead to the non-cash recognition of hedge ineffectiveness of $550–$600 million in the FY20 statutory result'.

I think it means a loss of $550-600m for not buying fuel they don't need, but sorry I'm only educated to Masters degree level so obvs I shouldn't expect to be able to understand a media release, /sarcasm off.

The airline takes out a hedge on fuel prices - usually on a year by year basis and the hedge is made up of two basic components: the actual price of the fuel and the amount of fuel to be edged. (it's really three components because time is a component but we've already referenced that)

In this instance the plain english explanation is:
- We didn't use anywhere near the amount of fuel we anticipated and hedged for
- So that means the hedge contract 'wasted' a chunk of money we already paid out to buy that contract
- And accounting rules require that we uhm account for it.. in our accounts..

Not an actual $550-600m loss - but the 'ineffectiveness' of the amount - which might be say $50m on that amount.

The reason it's not in plain English is that (and I only learned this formally last month) that there is actually multiple separate englishes which can have their own syntax and even vocabulary. Aviation English is an easier example to explain - it has a set of rules that you wouldn't use in normal english.

Accounting English is an example of a systemic English that uses a lot of the same words..

I do not have a Masters in Linguistics but given the breadth of forum knowledge I am sure someone with more knowledge than me will jump in