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Qantas boss fronts parliamentary inquiry – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Qantas boss fronts parliamentary inquiry

Qantas boss fronts parliamentary inquiry

Outgoing Qantas chief executive Alan Joyce is making his first appearance before a parliamentary inquiry in nine years, as pressure mounts on the national carrier to justify high airfare prices.

Mr Joyce is appearing before the Senate select committee on the cost of living in Melbourne, days after Qantas posted a full-year pre-tax profit result of $2.47bn after it incurred more than $7bn of statutory losses during the pandemic.

The airline’s successful efforts to lobby the federal government to cancel additional Qatar Airways flights to key capital cities has also been called into question.

Speaking before the hearing, NSW Labor Senator Tony Sheldon, who was formerly secretary of the Transport Workers’ Union, said Qantas needed to be held accountable.

“After almost a decade of evading parliamentary scrutiny, even while receiving a $2.7bn no-strings-attached bailout from the Morrison government, Mr Joyce has a lot to answer for,” Senator Sheldon said.

“Qantas has transformed from an aviation pioneer, into a pioneer of corporate greed, extracting every last cent possible from its workers, its customers and even the previous federal government.

“Between its war on its workers, price gouging on fares, its shonky credits system and aggressive competitive behaviour, it is high time that Qantas is held to account.”

The airline has also faced accusations of ‘slot hoarding’ at Sydney Airport, the practice of deliberately cancelling flights to hold onto takeoff and landing times in order to stifle competition.

Today’s hearing is the first time the Qantas boss has fronted the Senate since March 2014. During that previous appearance, Mr Joyce defended the airline‘s choice to cut 5000 jobs and outsource aircraft maintenance work.

More to come

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