Qantas Posts Record Annual Profit

Australian carrier Qantas has posted an annual profit before tax of A$1.42bn ($1.1bn) for the year ending June 30, nearly doubling the A$789m it last year.

Australian carrier Qantas has posted an annual profit before tax of A$1.42bn ($1.1bn) for the year ending June 30, nearly doubling the A$789m it last year.

The record profit comes just two years after Qantas started a restructuring programme following a record annual loss of A$2.8bn ($2.6bn).

In a statement released earlier today (August 24), the airline’s CEO Alan Joyce said “Transformation has made us a more agile business, created value for our shareholders and given us a platform to invest for the future.”

Looking forward, Qantas said it will retrofit Wi-Fi on its domestic 737 and A330 aircraft, and will begin a technology trial at the end of 2016 before rolling it out next year.

It’s also ramping up for the arrival of the 787 into its fleet, scheduled for the end of 2017.

 

TAGS: Asia Pacific
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