Comments on: Qantas Takeover Saga Lurches from One Embarrassment to Another

By: kage

kage — Tue, 08 May 2007 13:09:50 +0000

Yes, then AirNZ sucked Ansett dry - causing collapse. APA don't want to work for a living - they intended to load Qantas with huge debt, while paying themselves fat fees. Oh, and they're idiots with zero background in a business with such narrow margins.

By: Iain

Iain — Tue, 08 May 2007 12:42:09 +0000

Many people I know had a lot of problems with APA and the potential consequences - debt loading the business, asset stripping, etc. The debacle illustrated the caliber of the team. But I do agree with Richo that there appears to have been a conflict of interest.

By: Richo

Richo — Tue, 08 May 2007 06:47:35 +0000

I like most people I know have no problem with APA as owners. My problem from the day this started was the deception by Qantas management. The bid undervalued QAN's real value despite it not have traded at $5.45 before. IF APA had lobbed a $5.90 plus bid after the first offer was knocked all this destruction of credibility for those involved would not have happened. As for Ansett, this was a dog waiting to be put down, there is no way Ansett would have survived a competition with Qantas and VirginBlue. Air NZ was sucked in by the Federal Government and Murdoch to buy Ansett.

By: kage

kage — Tue, 08 May 2007 02:14:24 +0000

I totally agree that this takeover has been populated by incompetent, greedy individuals. I wouldn't trust these people to collect my garbage.
As to foreign ownership - remember Ansett - get the picture ? Qantas has the best safety record of any international carrier - bar none. Imagine what would happen to that if these greedy parasites had their way ?