Air Transport World

Qantas Airways.

Qantas Airways far exceeded industry forecasts with a 20.6% increase in net profit to a record A$304.8nilllion ($182.1 million) for the year ended June 30, 1998. The carrier drew on A$475 million in savings, cost avoidance and revenue enhancements and a sharp increase in domestic earnings to offset the Asia-inspired deterioration in its international business.

Analysts had predicted a result between A$280 million and A$290 million. However, these forecasts had not allowed for a 26.8% growth in earnings before interest and tax from the domestic operation to A$213.4 million.

While revenue climbed by a modest 3.8% to A$8. …

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