When rent turned to farce for Kwantas

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These people have no shame. From the AFR this morning:

The Australian Financial Review has also learned that a statement Qantas issued late on Monday rejecting claims by Treasurer Joe Hockey that the carbon tax was contributing to its plight backfired on the airline.

Mr Hockey read the statement to cabinet and said that if the airline was unfazed by a $106 million carbon tax bill, it could not be in serious trouble.

The bailout was pulled. And this afternoon from The Australian:

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QANTAS has urged parliament to support the Coalition’s efforts to support the national airline, revealing its carbon tax liability is on track to reach $118 million this year.

In a statement issued this afternoon, the airline complained the carbon tax was “among the most significant challenges we face” and that was unable to pass the cost on to consumers because of the “intensely competitive market”.

Bailout back on?

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.