Business
It’s a minor miracle Joyce didn’t front up with a worse result – Sydney Morning Herald
Qantas chief executive Alan Joyce has just provided a corporate lesson in how to run a business in crisis.
It has also been the happy recipient of help from Jobkeeper – although the majority of these were paid directly to staff rather than in wage subsidies to Qantas.
Sadly more than 8000 Qantas staff have lost their jobs and another 7500 have been stood down.
This is not to suggest that Qantas is in great shape. It is badly financially wounded.
Even though underlying cash flow was positive, its cash flow represented a mere shadow of that generated by the airline before COVID. The underlying profit before…
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