I'm all for pilots, engineers, CEO's and other company staff getting paid a fair wage for a fair days work. Over time, the market dictates fair price. Too expensive and it gets outsourced/offshored. Too cheap and you can't get the right people.
Financially Qantas has been on a down hill spiral for years. In the last 10 years:
.. debt has almost doubled
.. the profit it can generates on the debt/equity is down 75%
.. the value of the company has consistently dropped (a shareholders nightmare)
Airlines operate in a global market where Australian labour is very expensive (only made worse by a very strong dollar).
The company as a whole (both management and each employee) need to make some significant changes to stop the downward spiral or Qantas may not exist in its current form in another 10 years.
Matt
Last edited by Matt D; 12th April 2011 at 01:30 AM.
|