just spent an interesting 15 minutes going through the annual report (which is a real hassle being on the computer intead of paper copy).

I don't know where the numbers came from to get to the $10 cost -- esp. have no idea how one knows they are the right order of magnitude...

things that come to my mind:

- some pple say that the enforcement rule of the 4 QF sectors is to cut down on US pple using QF program and costing Qantas money -- too bad I couldn't find out where that cost would fall under -- it isn't broken out effectively.

- when pple credit to another program when travelling on a flight which qantas took the revenue (eg. to the candy land AA) there should be an outgo in terms of QF paying AA something -- couldn't find that either - it might fall under the (all encompassing) 'net passenger revenue'.

- there really instead much information on how they valued the QF program - anyone know any resources with tidbits on how these programs are valued? it would be interesting to see.