John Durie CEO survey 2014: Alan Joyce, Qantas

“YES, for two reasons – our transformation program is working and some of the headwinds we have been facing, like fuel and excess capacity, are easing.”

Qantas chief executive Alan Joyce announces the airline's full year results in Sydney on Thursday, Aug. 28, 2014. Qantas has posted a bottom line net loss of $2.84 billion for the year to June 30, compared to a $1 million profit a year ago. (AAP Image/Paul Miller) NO ARCHIVING

1: Has the corporate outlook improved and if so what are your investment plans?

Yes, for two reasons – our transformation program is working and some of the headwinds we have been facing, like fuel and excess capacity, are easing. The caveats are that we still have a distance to go with our transformation and demand in some parts of the market is patchy. Despite our cost out program, we have deliberately kept investing in aircraft, lounges and other customer-facing improvements because that’s key to our competitive advantage.

2: What is the disruptive technology you fear most, how will you beat it and name the three other biggest challenges and opportunities?

If you fear disruptive technology you probably shouldn’t be a CEO! Disruption is an opportunity and I’d point to social media as an example. There’s nowhere to hide if your service isn’t up to scratch, but social also helps you learn more about your customers, have more direct conversation with them and tailor your service to meet their expectations.

Three other challenges and opportunities?

•Maximising the benefits of our youngest-ever and simplified fleet to leverage cost and service benefits.

•Playing our part in realising Australia’s enormous potential in Asia.

•Seizing the opportunity of a weaker dollar to drive a resurgence of domestic and inbound tourism.

3: What are your shareholders’ key concerns?

Top of the list of shareholder concerns is signs of serious weakening in the domestic economy or a sustained drop in consumer confidence. There is also the volatility associated with fuel prices, which is our biggest overhead.

4: What are the top three issues facing the nation and how should they be resolved?

The top three issues facing the nation are:

• Finding a means of funding the infrastructure needed to lift national productivity and realise our economic potential. Asset sales by state governments and a greater involvement of the private sector will both likely have a role.

• A more assertive and coordinated approach to promoting Australia in global markets, cutting across trade, tourism, investment and business. There have been some good moves in this direction in recent years but we are still being out-manoeuvred by other countries.

• Encouraging diversity. Business leaders need to reinforce the positive impact that diversity has in the workplace, including at very senior levels. Workplaces should be meritocracies, but within that we have to remove any sneaking bias or prejudice that can cruel people’s ability to shine through.

5: What should be top of the tax reform agenda?

Accelerated depreciation for aircraft would bring Australia into line with other countries.