Mar 7, 2014

The Qantas debt trap: Joyce’s mayday calls on finances are premature

Analysts who study Qantas' books aren't worried about the airline's debt -- so is Alan Joyce crying wolf? Crikey's business editor on the spin, the backpedalling ... and the financial reality.

Paddy Manning

Crikey business editor

Qantas pilots are trained to avoid storms, but chairman Leigh Clifford and CEO Alan Joyce prefer flying straight into them.

It is a strange kind of leadership. And for Qantas employees and shareholders, strapped into a bumpy flight, there is a frightening view out the window: nothing but tempest and flashes of lightning.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

3 thoughts on “The Qantas debt trap: Joyce’s mayday calls on finances are premature

  1. zut alors

    ‘… what on earth have Clifford and Joyce been on about for the past few months? ‘

    Surely you mean the past few years. It takes a special kind of talent (read: incompetence) to nobble an airline with the world’s best safety record & endemic loyalty. The loyalty cut-off point came when Joyce grounded the airline.

  2. johnno

    Zut: Joyce and Clifford …..

  3. Dogs breakfast

    Is this what quality management looks like?


    If the answer is no, doesn’t Qantas have enough money to hire someone who is competent?

    It seems to me that the line between the corporate world and barefaced politics is a mighty thin one. If the corporate world was any different the Chair and the CEO would be out on their ears.

    Effectively, there is no accountability in Director positions and Chairs of major companies. They have to go so extraordinarily wrong before the investors, oops, correction, people who manage other people’s money, tap them on the shoulder.

    So at heart, keeping your position in the rarefied world of corporate behemoths is largely about just being there. Having made it, there are very few circumstances where you will be asked to leave.

    Just like politicians, or perhaps like a ‘made man’ in that noble and well known family business enterprise.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details