QANTAS ˈkwɒntəs abbreviation.
Acronym for Queensland and Northern Territory Aerial Services. Australia's national airline established in 1920.
Lexinote: QANTAS is an operating demonstration of the consequence of privatising national monopoly infrastructure.
Public monopolies charge customers (the 'public') cost plus overhead for services. 'Overhead' is a surcharge above cost that is reinvested in repair, renewal, maintenance, and research. Upon privatisation, the surcharge is increased by price gouging to whatever point the market can bear, and redirected to shareholders and CEO remuneration to the detriment of repair, replacement, maintenance, wages, and research. QANTAS was nationalised in 1947. Upon reaching peak efficiency and safety performance 50 years later it was sold to private investors, following the neoliberal rule book.
Originally parodied by the British television character Alf Garnett as "quaint arse" the name now represents "quiet and not taking off anytime soon."