Airline News
Qantas expects profit rebound
December 16th 2014
The Qantas Group said it expects to report an underlying profit before tax in the range of AUD300-350 million ($248.5 – $291 million) for the July to December period, reversing an AUD252 million loss reported in the year-ago period. Read More »
All operating segments of the Qantas Group – including its embattled international arm – are expected to be profitable for the half-year ending December 31 at underlying earnings before interest and tax level. Qantas’ share price improved significantly following the announcement, continuing the positive trend that saw it gain 169% in the year to date.
Qantas attributed the strong turnaround in the Group’s financial performance to a) the declining oil price; and b) rapid progress with the AUD2 billion three-year Qantas ‘transformation’ programme initiated last year. It said that, to date, all targets under the program had been either met or exceeded.
Meanwhile, Qantas has announced a new four-weekly Brisbane – Narita Airbus A330 service from August. Starting from the same month, it will shift its daily Sydney – Tokyo B747 service from Narita to Haneda. Qantas last month injected an additional $97 million into loss-making Jetstar Japan, a joint venture between the Qantas Group, Japan Airlines, Mitsubishi Corp. and Century Tokyo Leasing Corp.
