Qantas profit slumps
Qantas has just reported a $181 million pre-tax profit for the year to 30 Jun, down 87% on last year.
Yields slipped 4.3% due to weaker domestic and international demand, while the overall load factor also fell 1 point to 79.6%.
The carrier said the result was also impacted by one-off events including $130m in extra costs due to industrial action by the Australian Licenced Aircraft Engineers Association, and an estimated $45m hit due to swine flu.
CEO Alan Joyce said the diversity of the Qantas Group's operations had contributed to it "being one of the few airline operators worldwide to produce a full year profit, despite the impact of the global economic downturn.
"There has never been a more volatile and challenging time for the world's aviation industry," he said.
Joyce also announced the addition of four Airbus A330 aircraft, on six-year leases, to allow for Jetstar's long-haul international growth.
"These new aircraft will support the airline's growth across its internatioanl network which covers Australia, South East Asia and the Asia Pacific ahead of the delivery of the Qantas Group's first B787-9," he said
More information in today's Travel Daily
Last 30 Days' Most Popular Posts
Unley residents will be familiar with the generous green space of Heywood Park, which lies at the southern end of King William Road.
It's the little Outback Queensland town with a gutsy big past, but for most Australians, Cloncurry is about to go on record as the mig...
Sydney's Menzies Hotel was opened on 17th October 1963, by Premier R.J. Heffron and named after Sir Archibald Menzies, a pioneer in...
Orion Expedition Cruises, in association with Events Worldwide, is showcasing the Singapore Formula 1 Singtel Grand Prix with options of 3 o...
source: travelworldnews.com Small Ship industry cruise veteran Dave Randon has accepted the position of Vice President, Sales and Marketing ...
South Korea has one of the most advanced cycling infrastructures in the world and is a popular sport for locals, with trails tailored to f...