QF expecting underlying profit of $300m-$350m.
Qantas has just issued a market update, advising that it expects all of its operating segments to be profitable in the first six months of the current financial year.
The company is predicting an Underlying Profit Before Tax in the range of $300m to $350m for the half, with the “strong turnaround” driven by rapid progress with the transformation program announced a year ago.
Qantas is also expecting to receive a $30 million benefit from lower fuel prices during the period, with ceo Alan Joyce saying the more stable operating environment was seeing benefits flow directly to the group’s financial results.
“Today we confirm that Qantas is set to report its best first half result since 2010,” Joyce said.
“This demonstrates that the strategy we have outlined to transform our business is working…we are committed to completing the full $2 billion program to ensure a sustainable, competitive position for the long term,” he added.
More information in today’s Travel Daily.