A TURNAROUND IN domestic operations helped Qantas Airways to turn in better profits figures for its financial year to June. As promised in its flotation prospectus (Flight International, 5-11 July), pre-tax profits were up by more than one-third, at A$320 million ($230 million).
The biggest turnaround came from domestic operations, which raised their profits contribution by 75% to A$95 million. Domestic traffic was up by 19%, running only slightly behind capacity, and Qantas says that its market share remained above the 50% mark.
Demand for international traffic, also remains strong says chairman, Gary Pemberton, putting the group on course to meet profit targets for the coming year. Pemberton says that Qantas is also on target to achieve A$300 million in cost savings.
Source: Flight International