Qantas is confident its domestic position remains “extremely strong” and is unfazed by Virgin Australia’s recent wave of acquisitions.
Virgin recently completed its purchase of regional carrier, Skywest, and gained approval from the competition regulator for a 60% stake in Tiger Australia. The low cost carrier is expected to go head to head with Jetstar under the deal.
However, speaking at Arabian Travel Market in Dubai, Joyce told delegates that Qantas remains a “domestic powerhouse”, retaining a 65% share of the Australian market and more profitable than the “nearest competitor” by six to seven times.
He credited the creation of Jetstar in 2003 with “changing the whole market” and highlighted Qantas’ 85% share of the corporate market in Australia as another success story.
“Our competitors have decided that the best way to compete against that is to copy what we’re doing,” Joyce said.
“Virgin has copied everything Qantas has done over the last 10 years – the only thing they haven’t added is a kangaroo to their aircraft tail.”
