Qantas Records USD 980 Million Profit Full-Year

Qantas Records USD 980 Million Profit Full-Year. Qantas has posted a 15 percent increase in year-round net profit to USD 980 million, helped by the good results of the domestic flights business of Qantas and Jetstar.

Australia's leading airline also posted an underlying pre-tax core profit of $ 1.6 billion, up 14 percent, while revenue and other revenues increased 6.2 percent to USD 17.06 billion.

a380 qantas

Qantas Records USD 980 Million Profit Full-Year, pic: Airbus A380-800

The group's national flight division generated revenues of USD 1.1 billion, a 25 percent jump from the previous year, as more seats were squeezed into the aircraft, particularly its Jetstar A320.

The international business of Qantas increased its profits by seven percent to USD 399 million and maintained its profits. Chief executive Alan Joyce said the record earnings reflected a strong market and the benefits of continued work to improve the business and build long-term shareholder value, but warned of future challenges.

"We are facing another increase in our fuel bill for 2018/19 and we are confident that we will recover this substantially through a range of measurements of capacity, revenue and cost efficiency, in addition to our coverage program," he said. in a sentence.

Qantas did not provide a specific guidance for 2018/19, but said his fuel bill is expected to increase by USD 690 million to USD 3.9 billion, while group spending would increase by about USD 250 million.

Expect transformation benefits of USD 400 million in the current fiscal year. The airline has declared a fully franked final dividend of 10 cents per share, 3.0 cents more than a year earlier, while a stock repurchase program is ongoing.