In August 2022, Qantas released its financial year 2022 results and announced a $400 million share buyback. While Qantas losses during the pandemic amounted to almost $7 billion, the company expects to be on the path to recovery and wishes to return capital to investors. The announcement has received mixed reactions from stakeholders.

1) List one or more argument(s) to support Qantas share buyback

2) List one or more argument(s) against Qantas share buyback

3) How would the bought-back shares be shown on the balance sheet? Will dividends be paid on the bought-back shares?