Qantas yesterday announced a massive AU$970 million in profits after tax, a 44.1% increase on last year’s profits, despite the current fuel crisis.
Additionally, the national carrier also reported a record breaking AU$1.4 billion in profits before tax for the full financial year to 30th June, 2008, representing a 46% increase in profits.
Revenue reached AU$16.2 billion for the year, an increase of 7.5% on top of last year’s figures on the back of strong demand, which saw 7.6 million passengers carried throughout the year, which represents a lift of 6%.
Yet despite these impressive figures, it appears that Qantas are heading for further industrial disputation with their workers, this time with the National Union of Workers across Australia. In an ‘information bulletin’ distributed by Qantas yesterday, a pay increase of 3% is on offer. The NUW agreement expired in June 2007 and Qantas is still yet to reach agreement with the union with their ‘take it leave it’ pay offer. The Qantas bulletin further stated that “should the NUW and its members decide to take industrial action, Qantas would be forced to reconsider its position on backpay.”
It is tantamount to blackmail said a NUW Spokesperson..”here we have an employer who has never genuinely negotiated for the past 14 months now threatening their workers with a donkey and carrot approach on backpay if they don’t accept a lousy 3% at a time when the airline has posted a $1.4 billion dollar profit result.”
It is expected that the union will commence industrial action in support of their claims.