Lufthansa paid back its debt, Qantas bought its own shares – Michael West

Alan Joyce, Qantas

But the biggest scam came last week when Qantas handed down its profit results and declared a $400m share buy-back. The board apparently deems it okay for Alan Joyce and co to spend the airline’s excess cash – publicly subsidised cash – not on disaffected workers, not on tax, not paying back subsidies, not on services for customers but on … drumroll, buying its own shares in order to prop up the stock price and lift executive bonuses.

Source: Lufthansa paid back its debt, Qantas bought its own shares – Michael West