I got a call from QF about two weeks ago inquiring why I have not flown with them in in last quarter. I fly at least 2 x (JFK/LHR) each month and multiple domestic sectors. My reply was I am flying other carriers until the current uncertainty is sorted out.
I am assuming I am not alone in this.
I am normally sympathetic to union demands and have contributed significantly to past campaigns such as the anti-work choices campaign. But I also understand economics.
By far QF pilots are the best paid in the world. In some cases they are paid double the wage+allowances (take home cash) than airlines competing on the same route. For example
SQ A380 pilots earn around $SG 200k while the same QF pilot earns well over $400k in salary plus allowances.
US Pilots earn significantly less with domestic pilots earning as little as
$USD 18k
Even though I do not think Alan Joyce is the the best person for the job the high labour costs have very little is not a problem of his own making. Successive QF CEO's have passed on this problem until it has to be faced now.
This in many ways different from the US airlines having to renegotiate their labour contracts in the last few years. The difference is the US airlines waited until chapter 11 bankruptcy to do this and by waiting destroyed all the shareholder equity in the business. With this in mind I am not surprised 96% of the shareholders backed a restructures now rather than waiting for administration. At least today they are looking like they may get 30c-40c in the dollar invested 5 years ago. In administration they are likely to see zero.
Interesting that the unions are all for VA. But VA pays significantly less for pilots and even the
recent 28% pay increase still leaves them being paid less than QF union pilots.
May be if AIPA pilots (QF) offered to work under the same terms as the VIPA pilots (QF) they would have more public support.
Either way if QF goes out if business the people to loose out would be the employees and shareholders.
As for us customers there will always be another airline.