Air Transport World

Qantas.(1st-half earnings)(Brief Article)

Qantas reported a net profit of A$343.5 million ($224.7 million) for the fiscal year ended June 30 as a strong first half helped to mitigate the impact of SARS in the fourth quarter. Nevertheless, results were down 19.7% from a net profit of A$428 million last year.

Group revenues increased 3.7% to A$11.37 billion on a 3.1% rise in passenger revenues to A$8.99 billion. Total expenditures climbed 5% to A$10.81 billion. Excluding favorable currency movements, the increase amounted to 7.5% and was mainly owing to costs associated with a 3.7% boost in capacity, as well as higher depreciation due to new aircraft deliveries, writedown of the 767-200 fleet and redundancy costs arising from a reorganization program announced in April. …

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