Qantas has lost $252 million in the last six months and will soon lose 5000 more jobs. But CEO Alan Joyce keeps his job. Crikey’s business editor examines the wreckage.
The main thing the federal government would consider when deciding whether to grant Qantas its hoped-for loan guarantees, federal Transport Minister Warren Truss told the ABC this morning, was the market reaction to today’s first-half profit announcement. Well, the initial market reaction is in — and the thumbs are not up.