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.
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
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
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.
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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Alan Joyce sale of Qantas shares
annarob
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
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.
Travellz
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
APACPete
Qantas - Qantas Frequent Flyer
Member since 09 Jun 2017
Total posts 46
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
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.