Qantas forecasts a profitable start to 2015

Qantas Group is expecting its best financial performance in five years as group restructuring pays dividends and the operating environment stabilises.

Alan Joyce

The group has forecast an Underlying Profit Before Tax in the range of AU$300 million (GBP158 million)to AU$350 million for the first six months of financial year 2015 as all operating segments are expected to be profitable.

The strong turnaround in the Group’s financial performance is being driven by rapid progress with the AU$2 billion accelerated Qantas Transformation programme announced 12 months ago. To date, all targets under the programme have been either met or exceeded.

The Group also expects to receive a AU$30 million benefit in the first half from lower Australian dollar fuel prices.

Qantas CEO Alan Joyce said the Qantas Transformation programme was gathering pace and, with a more stable operating environment, benefits were flowing directly to the Group’s financial results.

“Today we confirm that Qantas is set to report its best first half result since 2010,” Joyce said.

“Qantas is 12 months into a three and a half year programme, but these strong early results give us the confidence that we will continue to meet all the targets we have set. We are committed to completing the full, $2 billion program to ensure a sustainable, competitive position for the long term.”

Qantas announces its first half results for the financial year 2015 on 26 February 2015.

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