Conditions stabilising in domestic and international markets.
Qantas has just issued a trading update, saying it is expecting its first half Underlying Profit Before Tax to be in the range of $900 million to $950 million.
Group revenue for the three months to 30 September rose 5.1% to $4.19 billion, with improved trading conditions in both the domestic and international markets compared to the previous corresponding period.
The domestic demand environment improved due to stabilisation of conditions in the resources market and the impact in the prior year of subdued activity in relation to the 2016 federal election.
There was a slight improvement in international operations, with unit revenue for Qantas International, Jetstar International and Jetstar Asia increasing 0.2% as competitors continued to pile on additional capacity.
CEO Alan Joyce said the company was pleased to see “continued strong performance across our portfolio of flying and loyalty businesses in what is a mixed market”.
More details in today’s issue of Travel Daily.