Restructures result in profits for Qantas
QANTAS last week reported an Underlying Profit Before Tax of $367 million after a recent restructure.
The Statutory Profit After Tax of $206 million for the six months ending December 31, 2014 was the best first-half of the year performance since 2010 and an improvement of $619 million compared with the same time period last year.
The ‘Qantas Transformation’ program was a major contributor to help Qantas get back into the black, chief executive Alan Joyce said.
“It’s clear that without the impact of transformation, we would not be announcing a profit,” he said.
Reduced depreciation, increased revenue per available seat kilometre, the removal of the ‘carbon tax’ and lower fuel prices also contributed to the profit.
The Group’s full-year underlying fuel costs are expected to be no more than $4 billion at current prices.