A recent media reported that Qantas made $842 millions annual profits.With such dowry under the belt,the outgoing chairman Geof, also noted that merger with another carrier is oncoming in the future.Forced by big bad wolf Mr Oil, who might it want to marry? One wag suggest Singapore Girl.If it is,it will be the marriage of the century.Geoff Dixon said consolidation was already occurring within the industry as airlines struggle against falling demand and rising fuel costs, and called for a "level of maturity" in any discussion of a potential merger."The airline industry is very fragmented. It is hugely capital intensive. Other airlines are starting to merge and we must be part of that," Dixon told the Australian Broadcasting Corporation. Mergers will be sooner than later.
He said that the price of oil was incredible,at 147. The slashing of 1500 jobs ,cost cutting and parcelling of heavy maintenance was not to be blamed for the mid air blast and door opening in midflight,he said. He was last year supported a buy out of the airline by private equity group and will be replaced by Alan Joyce,ex head of a budget airlines offshoot.
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Saturday, October 25, 2008
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