Qantas Airlines: Prosperous Profits, to Loathsome Losses - The government steps in

Qantas Airlines was once the number one choice of air travel companies, in Australia. In 2009 alone, a survey showed that almost one quarter of Australia's air travel customers, classified their first choice as Qantas. 2010, the demand in Qantas began to stagger, and from 23%, came down to 18%. Then came 2011, where everything fell apart. The ground crew and transport workers of Qantas demanded better working conditions, which Qantas failed to comply with. That may have been the move, that decided the fate of the huge multi-billion dollar business. At that point, The Transport Workers' Union of Australia stepped in. They attempted to negotiate for better working conditions once more, in which case the The Australian Licensed Aircraft Engineers Association and Australian and International Pilots Association were brought into the situation, who also negotiated. Huge industrials unrests were caused as Qantas along with the 3 organisations failed to come up with viable solutions. As strikes were organised, employees were asked to leave their jobs or resigned, the airline became inefficient, and huge disruptions and delays were caused. As customer's confidence lowered with the business, it lost profits. The situation slowly settled down, with no concrete solutions. Even though the Transport Workers Union with Qantas workers was not able to make any progress in working conditions, the pay back was sweet for them, but bitter for the business. Qantas Airlines had suffered an 83% drop in profit, were forced to cut up to $500 million of spending on the airline, and 2 of its Boeing 747 fleet were retired early. A business proudly making easily $478 million a year, had been made lucky to earn up to $90 million a year! The situation settled, and Qantas was, and still is, trying to regain business control. As Qantas was privatised, the government could not barge in and control things, and suggestions are what worked. Only today, Australian Government treasurer Joe Hockey made a statement on change the restrictions on international ownership in the airline. However, this would of course come at a cost to the Australian taxpayers, and they will keep Qantas as a national airline! He also claimed that Qantas airlines were in 'regulatory handcuffs'. Here is Mr Hockey's statement:

''If Australia wants to place regulatory handcuffs on Qantas, then we need to accept that that will come at the cost of taxpayers. Frankly, it's not something that I am willingly prepared to do - I don't like the idea of putting taxpayer's money or taxpayer's support behind Qantas.'' 

http://www.perthnow.com.au/business/massive-drop-qantas-profit-falls-83pc/story-e6frg2qc-1226272544870

http://wallpaper-free-stok.blogspot.sg/2012/12/wallpaper-qantas.html

Qantas Airlines has backed this statement, and more is to come! Let's see what happens!

Sources:
http://www.smh.com.au/business/aviation/taxpayers-must-pay-the-price-to-keep-qantas-says-joe-hockey-20131128-2ybgm.html
http://en.wikipedia.org/wiki/Qantas