Re­struc­tures re­sult in prof­its for Qan­tas

Southern Gazette (South Perth) - - Perth Airport -

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.

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