Qantas expects 1st-half profit to more than double

In August, Qantas posted one of the fastest turnarounds in Australian corporate history with a return to full-year, pre-tax profit of A$975 million (S$996 million).
In August, Qantas posted one of the fastest turnarounds in Australian corporate history with a return to full-year, pre-tax profit of A$975 million (S$996 million). PHOTO: AFP

SYDNEY (REUTERS) - Australia's Qantas Airways expects first-half underlying profit before tax to jump to between A$875 million (S$893.6 million) and A$925 million in the first half of the current financial year ending June 2016, it said on Monday (Dec 14).

That is more than double the underlying profit before tax of A$367 million it posted in the year-ago period.

In August, the Flying Kangaroo posted one of the fastest turnarounds in Australian corporate history with a return to full-year, pre-tax profit of A$975 million.

The profit boost comes on the back of an aggressive cost-cutting programme, a tailwind from cheaper fuel costs and stronger revenue growth, the airline said in a statement.

Qantas will announce first-half earnings on Feb 23.