Profits and power: Qantas and the Qatar question

News Snapshot:

And that was before Qantas on Thursday reported a monster $2.47 billion profit – 90 per cent higher than in 2019. By increasing fares and cutting costs, Qantas chief executive Alan Joyce, who stands to make $24 million this year, has increased the airline’s profit margins by a staggering 62 per cent, prompting this masthead’s Chanticleer column to ask if the airline is “over-earning”, pushing margins too high and service levels too low, and risking its dominant market share. There’s no doubt Joyce has delivered for shareholders. Qantas stock is up almost 40 per cent in the past year, but...