Ex Qantas executive questions airline’s strategy
Qantas Airways’ former chief financial officer Peter Gregg has told Bloomberg Business that he disagrees with the airline’s strategy after a newspaper said he’d sought support for a rival plan.
"I’ve got a bunch of mates I invest money with, we’ve looked among other assets at Qantas," Gregg said in a telephone interview with Bloomberg.
He cited friendships with Geoff Dixon, former Qantas chief executive, and venture capitalist Mark Carnegie. "We think it’s cheap and undervalued."
The Australian Financial Review reported that Gregg, now CFO for Leighton Holdings, and Carnegie have talked to investors about a plan that includes the sale of Qantas’s frequent flyer programme.
The group would prefer a tie-up with an Asian airline such as Cathay Pacific to serve the regional market, the AFR said.
Qantas is currently seeking approval for a partnership with Emirates and this month announced a share buyback.
"I spent 25 years of my career trying to build Qantas up and when I left Qantas it was a very successful company," said Gregg. "I have a different view of strategic direction."
Ian Jarrett
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