News
Qantas Group announces 6.3% revenue gain and KLM codeshare
October 26th 2018
On Thursday, the Qantas Group reported a 6.3% rise in revenue, to A$4.41 billion (US$3.1 billion), for the quarter ended September 30.Read More » The record result offset higher fuel and other operating costs.
Group Revenue Available Seat Kilometres (RASK) rose by 5.4% for the quarter. Domestic operations delivered a 6.8% revenue increase on stronger demand in business and leisure markets. International unit revenue to September 30 was up 4%, which the airline attributed to network structural changes and refocusing on its Singapore hub.
“Our record passenger revenue performance for the first quarter meant we substantially recovered higher fuel prices. Market demand for travel remains fundamentally strong and we’re seeing some wind-back of competitor capacity growth,” said Qantas Group CEO, Alan Joyce.
“Based on the value of forward bookings and broader market conditions, we’re confident in our ability to manage higher fuel costs and keep investing while delivering strong net free cash flow and long-term shareholder value.”
The group also has announced a substantial investment in a new first class lounge and expansion of its existing business class lounge at Singapore Changi Airport. Combined, this will increase the airline’s lounge capacity at Changi by 60% when completed in late 2019.
In other Qantas news, the oneworld carrier has signed a codeshare agreement with KLM Royal Dutch Airlines, a SkyTeam member. Qantas will add its ‘QF’ code on KLM’s daily flights between Singapore and Amsterdam and KLM will place its ‘KL’ designator on Qantas’s Singapore to Sydney, Melbourne, Brisbane and Perth routes.
