Qantas chief executive Alan Joyce says the company’s profits are poised to take-off, but Roger Montgomery says the whole airline industry is terminally unprofitable. Read article.
Roger Montgomery's popular value investing guide book for the stock market shares his tightly-protected stock investing rules for long-term value investing that you must follow to reproduce his excellent stock market returns.
Roger,
Like most low return, or money losing activities, it must be a lot of fun and really really ego boosting for those involved. Look to Richard Branson, and Howard Hughes before him, as examples of the ethos that the industry attracts. Of course both have/had some other profitable ventures to subsidize their passion for airlines. Otherwise excess capacity would soon disappear and a modicum of economic return would be sustainable over the long run.
Regards
Lloyd
Interesting observation Lloyd. Thanks again.