Passengers Hate Qantas. Shareholders Aren’t Bothered
There’s no one left in a position to challenge the Australian carrier in its home market. That makes for lousy service and great financial results.
Qantas has become one of the most financially secure carriers anywhere in the world.
Photographer: Brendon Thorne/BloombergHow can a chief executive officer who’s attracted as much ire from passengers as Qantas Airways Ltd.’s Alan Joyce still be impervious to criticism? It helps to remember who executives answer to. Here’s a clue: It’s not the people buying tickets.
Joyce has experienced calls for his resignation from unions and Australia’s parliament and had his home in Sydney defaced with eggs and toilet paper in July following chaotic scenes at airports with long lines, lost luggage and delayed departures. And yet shareholders are in a forgiving mood.