00:00Qantas's share price has recently hit an all-time high, but its brand has been damaged
00:07by recent controversies, something the board acknowledged during today's AGM.
00:13Chairman John Mullen told shareholders there was no shying away from past challenges.
00:18They include the illegal sacking of 1,700 workers during the pandemic and selling tickets
00:24on flights that had already been cancelled.
00:27Those two issues alone will cost the airline hundreds of millions of dollars in fines and
00:32compensation.
00:33The chairman said he wanted to re-establish Qantas's reputation as one of the world's
00:38leading airlines.
00:40He said the company was doing all it could to regain the trust of its customers, shareholders
00:45and workers, who were today told they'd each be getting bonuses worth $1,000.
00:51Will we get everything right going forward?
00:53No, we won't.
00:54Will we make mistakes in the future?
00:56Inevitably we will.
00:58But you have our absolute commitment to learn from the past, correct mistakes quickly and
01:03ethically if they occur, and ensure that we earn the trust and respect of all of our stakeholders.
01:10Today's AGM has coincided with industrial action by engineers across the country.
01:15Up to 600 of the airline's engineers are striking for four hours in the morning and four hours
01:20later today.
01:22They're seeking a 25% pay rise over the next three years.
01:27You can pretend that there's not a problem, you can ignore the problem for so long, but
01:30we're not shifting, we're not moving, no more delays, we need a fair deal.
01:35Unions say they'll escalate their campaign if their demands aren't met.
01:39Qantas says it has contingencies in place to ensure that passengers aren't impacted
01:45by today's strikes.
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