AUSTRALIA: Qantas returns to profitability
Qantas has returned to profitability in the six months ended 31 December 2009 after posting losses in the January-June half of 2009. Qantas posted a net profit of A$58 million (US$52 million) and $6.9 billion in revenue for the half year, compared to a net profit of $210 million and $8 billion in revenue for […]
March 1, 2010
Net freight revenue for Qantas Freight declined by A$96 million, or 19 per cent, compared to the same period 2008, due to major declines in yield.
The economic downturn adversely affected volumes and yields, although volumes improved in December, primarily from increased consumer confidence in the US and the consequential restocking by retailers.
Yields for the half-year were 23 per cent below the comparative half year (1H08/09), of which roughly 25 per cent was attributable to adverse foreign exchange.
Increased load factors mitigated the full effects of capacity reductions on revenue, Qantas said, adding that load factor increased by 4.7 per cent on a capacity decrease of 6 per cent.