Qantas Posts Profit for Year

Qantas has announced an Underlying Profit Before Tax (Underlying PBT) of $377 million for the full-year ending June 30.

The Underlying PBT result was in line with guidance of between $300 million and $400 million.

Qantas Chief Executive Officer Alan Joyce said the result indicated the Qantas Group had performed well during tough trading conditions, adding that they were well-placed to capitalize on the recovering international and domestic markets.

“International demand and yield across the business and leisure sectors continue to improve and domestic business demand is also strengthening,” he said. “The domestic leisure market continues to be highly competitive; however we expect this, too, will improve in the first half of the year.

The Group expects to increase capacity in the first half of FY11 by 9.6 per cent compared to first half of FY10, while retaining flexibility to optimise.

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