The Qantas Group witnessed a decline in profit but set records in its domestic and loyalty results.
Qantas Group has reported an underlying profit before tax of $780m in its H1 FY19 results, a decline of $179m on the H1 result in FY18.
A $416m (27%) rise in oil prices presented Qantas with a “significant headwind” during the period, but the group “moved quickly to recover as much of the cost as we could,” CEO Alan Joyce said.
Group Domestic witnessed a record profit, up 1% to $659m and Qantas Loyalty marked a 4% rise in profit to $175m.
Qantas International’s revenue increased by almost 7% to $3.7b, but EBIT declined by 60% to $90m, attributed largely to the rapid rise in fuel costs.
More details in today’s issue of Travel Daily.