Qantas posts best profit since before the GFC

Qantas today announced its strongest profit since before the Global Financial Crisis and an order for eight B787 aircraft, to be delivered from calendar year 2017 to gradually replace five older B747s to start a “new era” for Qantas International.


Qantas today announced its strongest profit since before the Global Financial Crisis and an order for eight B787 aircraft, to be delivered from calendar year 2017 to gradually replace five older B747s to start a “new era” for Qantas International.

For the 12 months to 30 June 2015, Qantas reported an Underlying Profit Before Tax of $975 million and a Statutory Profit Before Tax of $789 million. The underlying result is a turnaround of $1.6 billion compared with financial year 2014, including Qantas’ best ever second half performance, with all segments of the Qantas Group reporting robust profits and returning their cost of capital.

Qantas Freight reported record Underlying EBIT of $114 million, compared with $24 million in financial year 2014, driven by transformation benefits of $38 million and high load factors.

The business renewed Australia Post as its biggest domestic freight customer as well as adding a new major customer, Toll Group.

The carrier said the driving force behind the Group result was progress with the Qantas Transformation programme, which realised $894 million in transformation benefits during the year and saw Qantas meet its target of paying down more than $1 billion in net debt. As a result, Qantas has reached its optimal capital structure – enabling it to resume shareholder returns while continuing to invest in growth and renewal.