Alan Joyce sale of Qantas shares

4 replies

annarob

Member since 04 Sep 2022

Total posts 2

Here's a question for our financial and legal minds: Given the s***storm Qantas has found itself in over the last few weeks and the slump in share prices, could AJ's disposal of shares earlier this year at their peak, be considered an act of insider trading? I find it inconceivable that he would not have known at the time that all the information surrounding the lobbying against Qatar, airport slot hogging etc was bound to become public knowledge as well as no doubt having legal advice or opinion on how the cards were likely to fall in respect of the appeal. All this negative coverage would surely lead to a likely tank in the share price (as it did) and AJ would have known this at the time he sold the shares.

Frequency

Member since 12 Sep 2023

Total posts 4

Originally Posted by annarob

Here's a question for our financial and legal minds: Given the s***storm Qantas has found itself in over the last few weeks and the slump in share prices, could AJ's disposal of shares earlier this year at their peak, be considered an act of insider trading? I find it inconceivable that he would not have known at the time that all the information surrounding the lobbying against Qatar, airport slot hogging etc was bound to become public knowledge as well as no doubt having legal advice or opinion on how the cards were likely to fall in respect of the appeal. All this negative coverage would surely lead to a likely tank in the share price (as it did) and AJ would have known this at the time he sold the shares.

Excellent Point made here. An authority needs to investigate this clowns market transactions

Travellz

Member since 26 Mar 2020

Total posts 55

Qantas at the moment is a joke - when I travelled yesterday can sense general disgust towards the airline amongst customers - a lot more complaints and arguments at the terminal and people no longer prepared to accept what i call frankly crap service at eye watering prices

APACPete

Qantas - Qantas Frequent Flyer

Member since 09 Jun 2017

Total posts 60

Making a general statement only here. A CEO could have known that there was going to be a potential share price drop.

In an ACCC case, prior to being made public that a matter would be going to court, a company would have been invited to respond to the allegations of contravention of Australian Consumer Law. Based upon the response, the ACCC may then take court action. This process can take considerable time depending upon the complexity of the case.

John Phelan

Qantas - Qantas Frequent Flyer

Member since 28 Oct 2011

Total posts 261

Originally Posted by annarob

Here's a question for our financial and legal minds: Given the s***storm Qantas has found itself in over the last few weeks and the slump in share prices, could AJ's disposal of shares earlier this year at their peak, be considered an act of insider trading? I find it inconceivable that he would not have known at the time that all the information surrounding the lobbying against Qatar, airport slot hogging etc was bound to become public knowledge as well as no doubt having legal advice or opinion on how the cards were likely to fall in respect of the appeal. All this negative coverage would surely lead to a likely tank in the share price (as it did) and AJ would have known this at the time he sold the shares.

Given that the Australian Government has knocked back multiple requests from other international airlines over the years, Joyce could not possibly have known that the Qatar issue would blow up like it has. Similarly, Qantas has been "slot hogging" for years - and it has never been a big issue before. It just seems there has been the "perfect storm" of events all combining to create the current near-hysterical reaction to stuff which has been standard operating procedure for years.

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