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  • 10 hours ago
Shares in Qantas took a dive today down 9.2% after the airline delivered a fairly flat statutory result. Net profit for the six months to December came in below expectations at $923 million up just 0.2% or two million dollars from the same period last year. Sales rose by 3% while pre-tax earnings per share of 61 cents was below market expectations of closer to 66 cents. Domestic unit posted a 5% rise in revenue while the international division excluding JetStar Asia and JetStar Japan reported a 6% fall. Qantas has announced a share buy-back of up to $150 million and an interim dividend of 19.8 cents per share.

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00:01One, we are continuing to see really strong travel demand.
00:06And that's both across our premium airlines, but also Jetstar.
00:10And the second thing that is driving a significant uplift is the investment that we are making
00:15in new aircraft.
00:17Jetstar's new aircraft now are at scale, and we're seeing that 60% of the uplift in their
00:23profit has come from the new aircraft.
00:25And what is unlocking that performance, one, the aircraft are more efficient.
00:29They use less fuel.
00:30They are also enabling us, because they are a more capable aircraft, to open up new routes.
00:35So we are growing.
00:36And this is what we think that as the Qantas investment in the new narrow body fleet comes,
00:42and then ultimately Project Sunrise and beyond that for Qantas International, that's going
00:46to be one of the biggest transformations that we are going to see unlock ongoing earnings
00:51growth in this business.
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