Qantas may recover from decline if Canberra relents
Airline's nosedive offers its CEO best chance to steer it to long-term growth
[SYDNEY] Whether through error or circumstance, Qantas Airways Ltd's spectacular fall from grace is giving chief executive Alan Joyce his best chance of steering the airline towards long-term salvation.
Mr Joyce has called on the Australian government to help the national flag carrier in its hour of need. If Canberra is convinced Qantas is in peril, it may have little option but to abandon decades of resistance and provide state aid.
The executive needs little help making a convincing case: Losses from a domestic price war and international competition are piling up; Qantas is now worth only half what it was when Mr Joyce took the helm in 2007; and its credit rating is now junk across the board.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US