Jetstar profits helped by NZ push

Qantas Airways' low-cost carrier Jetstar posted a pre-tax profit of A$137 million ($114 million) for the year ending 30 June.

Jetstar says the A$137 million profit resulted from a 13% rise in revenue to A$1.85 billion from A$1.56 billion.

It says that the profit overall includes a profit from its New Zealand unit although it declines to reveal the number.

Jetstar replaced Qantas in the New Zealand domestic market on 10 June this year and Jetstar says Qantas group lost of A$32 million in New Zealand for the 2008/2009 financial year.

The low-cost carrier says its New passenger load factor was 78% in June and in July it was "in excess of 80%."

"A profitable transition from Qantas to Jetstar in the domestic New Zealand market has, and is, being achieved, further endorsing the many benefits of the Qantas group's effective two flying brand strategy," says Jetstar CEO Bruce Buchanan.

Source: Air Transport Intelligence news