Despite tough competition on international and domestic routes, and high fuel prices, Qantas more than doubled its underlying earnings to $192 million....Qantas have also flagged more asset sales, namely their Richmond based Defense Division which will be sold to Northrop Grumman for $80m
Revenue inched up 1.1 per cent to $15.9 billion. The airline again said it would not pay an interim dividend, continuing a policy in place since 2009.....
The domestic premium operations, Jetstar and the frequent flyer division all made a profit, while the international operations halved its underlying losses to $246 million.
Read more on the Qantas result at brisbanetimes.com.au HERE
Jetstar have reported a 32% fall in underlying profit thanks mostly to the launch of offshoots Jetstar Japan and Jetstar Hong Kong, the latter of which is still yet to get off the ground.
The result for Jetstar included a $29 million hit from the federal carbon tax and $50 million in start-up losses in Japan and Hong Kong. The start-up losses rose by $31 million from a year earlier.It is believed Jetstar's domestic profitability has halved in the last financial year but the international and Jetstar Asia arms have turned a profit. Jetstar are also looking towards increased competition from Tigerair Australia with the Airline set to double in size by 2018 now that Virgin Australia owns the controlling stake.
Read more on Jetstar's fortunes also at BT HERE