Qantas has just released its full year results for the 12 months to 30 Jun, with a statutory profit before tax of $323 million, up 81% on the previous year.
The underlying profit before tax was up 46% to $552 million, with the carrier’s total revenue up 8% to $14.9 billion.
CEO Alan Joyce said the outcome was the carrier’s best performance since the global financial crisis, and was achieved “while overcoming significant external and operational factors, including a series of natural disasters, a 28 per cent increase in average fuel prices and an underperforming international business”.
The Qantas division improved significantly, with a $228 million segment performance coming in almost two and a half times last year’s $67m figure. Jetstar made $169 million, while the top performing division was once again Qantas Frequent Flyer which contributed $342 million. Qantas Freight made $62 million.
The figures reveal that Qantas incurred $29 million in “losses on disposal and other transaction costs relating to the Jetset Travelworld Group merger,” as well as confirming a $4 million profit on the recent sale to JTG of Harveys Holidays.
Joyce said that the result came despite a loss of more than $200 million on the international business, with the carrier set to “reduce investment in underperforming business areas”.
More information in today’s Travel Daily.