Wednesday, March 07, 2007

Qantas Sold

Well that didn't take the treasurer very long. He has approved the sale of Qantas to the consortium of business men, known as 'Airline Partners Australia' snappy little name really. They may be partners to each other but I doubt they will be seen as partners with Australia a year or so down the track.

The treasurer announced certain conditions of sale and said they would be contained in an 'enforceable deed of agreement'. I like the word enforceable, as if that is going to carry much weight when the company is no longer a publicly listed company and has moved much of it's operation off shore. As some bright spark has said,

"I bet the consortium lawyers are looking at ways around the enforceable parts of the deed of agreement." And of course they will.

What the Treasurer has done, used to be called a snow job. Make it look like you have considered the problem, and in this case give it a few weeks, then announce some cosmetic changes and allow the deal to go through.

There is not much any of us can do to stop the sale now and in reality it won't make that much of a difference, to most of us. It will mean the employees may loose their jobs and we may end up with an airline known as Jet Star instead of Qantas in the future.

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