Qantas has made a profit of A$367 million before tax for the six months ended December 31, 2014.
The financial result is the carrier’s best first-half performance since 2010 and an improvement of A$619 million, when compared to the same period in 2013.
Qantas has highlighted several key factors that have contributed to the improvement. These include:
A$374 million – Qantas Transformation programme benefits
A$208 million – Reduced depreciation
A$162 million – Increased revenue per available seat kilometre
A$59 million – Removal of carbon tax
A$33 million – Lower fuel prices
Qantas chief executive Alan Joyce welcomed the news and stated that the results were a clear indication that the group was making the right moves and doing so with discipline and speed.
“The decisive factor in our best half-year result for four years was our complete focus on the Qantas Transformation program,” Joyce said.
“What sets this transformation apart is that we are reducing costs permanently while at the same time delivering Qantas’ best ever fleet, product and service. We are meeting or exceeding all our targets as we build a sustainable future for Qantas with an emphasis on growing long-term shareholder value”.
In short, the Qantas Group is now targeting A$675 million of transformation benefits in financial year 2015, up from the previous target of A$600 million. Combined with the A$204 million in benefits realised in financial year 2014, this will result in total benefits of at least A$875 million by June 30, 2015.
For more information, visit qantas.com.au