Qantas back into black with modest annual net profit
SYDNEY (AFP) - Australian flag carrier Qantas bounced back into the black Thursday, posting an annual net profit of A$5 million (S$5.7 million), up from an historic A$245 million loss the previous year.
Its underlying profit before tax in the 12 months to June 30 - the airline's preferred measure of financial performance - was A$192 million, up from US$95 million.
"The market is very tough. But we are focused on the elements we can control," said chief executive Alan Joyce as the carrier recovered from its first annual loss since privatisation in 1995.
"We have Australia's leading airlines and loyalty business - and we have a clear strategy to build an even stronger business for the future." The group's international division remained a weight on the company, posting a loss of A$246 in the year to June. But that compares with a loss of A$484 million in the previous year.