Qantas posts a $2.8 billion loss. Thats billion with a b. Its what we call the headline figure and it comes from the way Qantas has written down the value of the aircraft it plans to sell which has to be reflected on the P&L. The underlying loss of $646 million is pretty diabolical too. Its funny, I remember years ago at The Age being hauled over the coals by my last editor, who had no head for business and couldnt write to save himself, when I wrote that Qantas was up to accounting shenanigans by overvaluing its aircraft. As I told him at the time when he pulled my story, it will all come out in the wash. smh.au/business/aviation/qantas-posts-confronting-28b-loss-after-hefty-writedowns-20140828-109ba6.html
Posted on: Thu, 28 Aug 2014 01:01:07 +0000
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