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From sinner to revive Qantas Airways hero
2 years ago, nearly 5,000 people have signed a petition in favor of Alan Joyce CEO Qantas chair out Airways. Its employees on strike, resulting in about 600 flights were canceled, as 70,000 people stranded at the airport. But so far, Alan Joyce is the company who helped turn the flag the fastest in history.
Public opinion "stoned"
Qantas Airways Ltd. losses in the fight for seats on the plane with Virgin Australia Holdings Ltd.
The Australian Government does not guarantee the debt for the company, while stocks have been considered low credit limit that can not be classified. The company's stock price fell to the lowest level.
8/2011, Alan Joyce to establish a luxurious airline in Asia, but negotiations with Malaysia Airlines failed in just a few months.
In 2012, due to the cost of the war capacity and record fuel prices, Qantas Airways for the first time since a loss to the stock exchange in 1995. Since 2009, Qantas does not pay dividends regularly.
Dated 27.02.2014, he announced plans to not increase salaries, reduction in costs AUD 2 billion and sold 50 aircraft fired simultaneously 1/7 total workforce.
Senator Nick Xenophon called on Alan Joyce and Qantas executives to resign and take responsibility for the damage caused. Nearly 5,000 people have signed a petition in favor of Alan Joyce CEO out of the chair.
As well as the decision of Alan Joyce, its employees strike, resulting in about 600 flights were canceled, as 70,000 people stranded at the airport.
However, within a few months, the recovery plan started to bear fruit. It is through labor reductions that Qantas had been profitable for the first time since 2008. Even the firm also can buy 8 Boeing Dreamliner.
Qantas is known as Flying Kangaroo (Kangaroo fly) and until now, the Kangaroo was really fly. Only in the first half of 2015, free cash flow that the company creates value exceeding 1 billion AUD. Last November, the company's shareholders had been paid 505 million AUD.
According to Sean Fenton, fund manager of Tribeca Investment Partners in Sydney, Australia, instead of letting too many international flights which incurred losses, Qantas partnership with Emirates of the UAE, China Eastern Airlines of China and the US to American Airlines increase profits without much capital.
11/2008 adjective when Alan Joyce operating companies so far, Qantas shares rose 59%. This is not an easy affair. 12/2013 In November, Qantas shares fell below 1 AUD / share.
To date, its stock price has gained nearly 4 AUD / share and according to Bloomberg, the price will rise further.
According to Bloomberg estimates, basic profit before tax in the last 6 months of 2015 rose to 908.7 million Qantas AUD 367 million from the same period in 2014. These results are due to the reform program to increase revenue and fuel prices fell.
Naturally, the "natural time" factor is also helping Alan Joyce to change airlines. First, the Australian dollar should weaken Chinese tourists to Australia hit record.
Each one usually must go 2-3 domestic flights during the trip, but in the meantime, the airline Qantas domestic air dominance.
Therefore, revenue increased by Qantas. Second, fuel costs decreased due to lower crude oil prices. In one year, from 07/01/2014 to 06/30/2015, the company only spent 3.85 billion AUD 3,61- fuel bills, reduce risks by preventing future contractual.
This number is much smaller than AUD 3.9 billion of the 4.5 billion years of 2013-2014 and 2012-2013.
Time before Qantas having problems, the market is flooded with cheap airlines. The "irrational competition" is also the cause of the trouble of Qantas.
In the period 2009 - 2014, the international competitors of Qantas increased capacity up 44%, while this year, the increase was only about 4-5%.
Fate heroes after victory
Alan Joyce was the one who helped the company turned to bend the fastest in history. Shares of the company rose more than 4 times, profits peaked. Very likely, into next week, Alan Joyce will announce the dividend in cash to shareholders.
In other words, with the shareholders of Qantas Airways, Alan Joyce switched from enemies into friends.
According to Neil Hansford, chairman of consulting firm Strategic Aviation Solutions in Nelson Bay- Sydney, Alan Joyce has substantially restructured the business.
Alan Joyce served as communications equipment to puncture paddy but now, he has helped save the airline and deserve to be honored. Normal people can not live well with what Alan Joyce has undergone. Alan really did change a huge company.
Irish people still tell or luck. Thought as the lucky no longer smiled at Joyce but then it came back. Hard to believe that a company such lui can beat turning fast break.
According to Neil Hansford, chairman of consulting firm Strategic Aviation Solutions in Nelson Bay - Sydney, Qantas will also reap more success, but has been successful until then, whether Alan Joyce has continued to stay or not remains a question, because there's nothing to go on and on forever.