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Thursday, February 17, 2011

Qantas Announces Profit Result - Half-Year Ended 31 December 2010 and Qantas Group to Boost Aircraft Fleet



Solid recovery from GFC and other events

Strong growth across all operating segments

Highlights :

􀂃 Underlying Profit Before Tax of $417 million - up 56 per cent on prior corresponding period
􀂃 Revenue of $7.6 billion - up 10 per cent on prior corresponding period
􀂃 Operating cash flow of $743 million - up 54 per cent on prior corresponding period
􀂃 Cash balance of $3.3 billion

See attached for the full report

The Qantas Group also announced it would boost its domestic, resources charter and international fleets to support ongoing growth and operational efficiencies across its flying businesses.

Qantas Chief Executive Officer, Mr Alan Joyce, said a combination of new aircraft orders and leases, as well as lease extensions, would position Qantas, Jetstar, and the recently acquired Network Aviation, to take advantage of new market opportunities.

"The Qantas Group has a very strong, but still flexible, domestic and international aircraft order book,"Mr Joyce said.

"Today we are announcing significant moves that will build on this strength and meet our strategic needs in the short to medium across, particularly in the domestic and Asian markets."

Key points of the fleet plan update, which covers the period through to the end of FY13:

􀂃 the lease of five additional B737-800s, and the extension of leases on two B737-800s, for Qantas
􀂃 the lease of 10 additional A320s, and the extension of leases on 11 A320s, for Jetstar
􀂃 the lease of one A330-200 for Jetstar
􀂃 the purchase of 10 Fokker 100s for Network Aviation
􀂃 the lease of two additional B717s for QantasLink

"With the domestic market continuing its strong post-GFC recovery and growth, the Qantas Group will need additional capacity to participate in this growth and maintain its profit maximising 65 per cent domestic market share," Mr Joyce said.

"Much of these fleet additions will be directed to this key part of our operations - across each of our premium and low fare airlines, as well as Network Aviation operating fly-in-fly-out resource charter services in Western Australia.

"More A320s, as well as another wide-body A330-200, will ensure Jetsar maintains its place as the country's largest low fare airline and, along with Jetstar Asia, is best positioned to continue to drive the Group's Pan-Asian strategy.

"Our intention from day one has been to grow Network, and today's announcement will increase its F100 fleet five-fold."

Last year Qantas launched a wide-ranging domestic refresh which includes inflight product changes, the roll-out of faster, smarter Next Generation Check-in and lounge upgrades.

"Qantas now has 33 B737-800s on order, including the five announced today," Mr Joyce said.

"Operating primarily on Australian domestic routes, but also across the Tasman, all will have this latest product offering, including individual seat-back inflight entertainment screens for all customers, further cementing the airline's 'best for business' market position."

Qantas' first domestic B737-800 with this new offering will be delivered in April, and the first to also feature new Boeing Sky Interiors, including mood lighting and improved overhead luggage space, will
arrive later this year.

QantasLink's B717 fleet will grow to 13 aircraft, ensuring Australia's leading regional airline is able to take advantage of new opportunities.

See attached for table of Qantas Group firm aircraft deliveries.

Note: For breaking Qantas news via Twitter, go to http://twitter.com/qantasmedia

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