Qantas goes back into the black
Qantas returned to profit in the last financial year as its new alliance with Emirates helped to cut losses on its international flights.
It made a net profit of A$6 million (£3.5 million) in the year ending 30 June, reversing a loss of A$244 million in the previous year.
Earnings were also boosted by a A$125 million settlement it received from Boeing after it cancelled 787 orders.
Losses on international flights were almost halved after the alliance with Emirates, which was entered into last September, lifted bookings to key markets.
Chief executive Alan Joyce said the partnership with Emirates strengthened the group’s position on routes to Europe, the Middle East and Africa via its global hub in Dubai. So far, bookings are running at about twice the level of Qantas’ previous codeshare arrangements for flights to Europe, he said.
The airline is on track to achieve its target of making international operations profitable in 2015, he added, but profits on domestic flights are continuing to fall. The airline made a A$365 million profit on domestic flights, down 21% on the previous year.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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