Today’s news from Qantas is being geared up as a gloomy one. Arguably locking themselves into an escalating war with Virgin ought to put much of the blame on the shoulders of the “brainiacs” on their board.
But that is no reason for us to get angry. We lost our airline back in 1993 when our elected bodies thought it prudent to start a rock-bottom garage sale of public assets.
Today, the Qantas mask hides a bunch of international part owners. Hopefully, we are now no longer mourning this and again, this is no reason to be angry today.
We ought to be angry with any suggestion that our taxpayer dollars can be held ransom to the investment activities of a private entity.
A debt guarantee does not benefit the public in anyway. Should their investments fail, the taxpayer suffers. Should their investments prove lucrative, the shareholder profits. There’s no benefit for guarantor, in this case, the taxpayer.
It is like the government handing over a blank check to a broke gambling addict.
If we are supposed to care about Qantas with any patriotism, stick a few old planes in various aircraft museums around the country. Don’t gamble with the Australian public pocket.
The age of entitlement is apparently over for Australians. This should also span big business, regardless of what façade it wears.
Qantas is no longer the Queensland and Northern Territory Air Service. Qantas is an international private entity. Profits are not our revenue. Qantas jobs are increasingly going abroad as well.
Should it sink or float is for the shareholders and senior board to work for and not the Australian public.