Qantas to return $500m in capital to shareholders.
Qantas has just reported its strongest result since the 2008 global financial crisis, with an Underlying Profit Before Tax of $975 million for the 12 months to 30 June 2015 – a turnaround of $1.6 billion compared to the previous year.
The statutory result was a $789 million profit, with the carrier recording its best ever second half performance in which all segments reported “robust profits”.
CEO Alan Joyce also announced that eight new Boeing 787-9 aircraft would be ordered for Qantas International, a “milestone acquisition” which signals a new phase of renewal and growth.
The 787s will be delivered from 2017 and gradually replace five older Boeing 747s, with Joyce saying the new planes’ “incredible range and fuel efficiency will create new possibilities for our network”.
Qantas has also written off its investment in Jetstar Hong Kong, with an impact of $21 million.
More details in today’s issue of Travel Daily.