24 Aug '11, 12am

Australia's Qantas more than doubles profit

SYDNEY: Australian flag carrier Qantas Airways on Wednesday posted a more than doubling of full-year net profit to A$250 million (US$262 million), with improvements to earnings across most segments. The results for the year to June 30, from an airline that announced Asia-focused restructuring plans earlier this month, compared with a net profit of A$112 million dollars in the previous corresponding period. Its underlying profit before tax -- the airline's preferred measure of financial performance -- was A$552 million, above the A$377 million achieved in 2009/10. "This result reflects the strength of the Qantas Group's portfolio and is our best performance since the global financial crisis," said chief executive Alan Joyce. "We achieved the result while overcoming significant external and operational factors, including a series of natural disasters, a 28 percent increase i...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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