Home
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Fulsome tribute to supervisor in paper draws ire
On extending employment benefits to gig workers
Sunday
- Subscribe
Related News
Qantas net slumps 66%
By Rohan Sullivan |
February 5, 2009, Thursday
|
Print Edition
Print Edition
QANTAS Airways Ltd said yesterday that its net profit slumped 66 percent in the first half of its financial year to A$210 million (US$132 million) as the global financial downturn sent passenger numbers tumbling.
The airline, which dominates Australia's domestic market and operates lucrative routes to the United States and Europe, also announced plans to raise at least A$500 million in new capital via an equity share issue to pay off debt and fund new planes.
Qantas earned an after-tax profit of A$210 million for the six months to December 31, 2008 compared to A$618 million for the same period a year earlier, it reported to the Australian Securities Exchange. Pretax profit crashed more than 68 percent to A$288 million
Group revenue rose 2 percent to A$7.9 billion from A$7.8 billion in the earlier period. Earnings per share were 10 cents and the company announced an interim dividend of 6 cents per share.
Qantas kept its pre-tax profit outlook of A$500 million for the 12 months to June 30.
Chairman Leigh Clifford said earnings were hit by the global economic downturn and volatility in currency and oil prices, but he insisted the company remained strong and profitable.
"Our revenues have come under pressure, but through calibrating our network, stimulating demand through attractive pricing, maximizing the performance of our diversified businesses and restraining costs we have achieved a very good result," Clifford said.
The airline, which dominates Australia's domestic market and operates lucrative routes to the United States and Europe, also announced plans to raise at least A$500 million in new capital via an equity share issue to pay off debt and fund new planes.
Qantas earned an after-tax profit of A$210 million for the six months to December 31, 2008 compared to A$618 million for the same period a year earlier, it reported to the Australian Securities Exchange. Pretax profit crashed more than 68 percent to A$288 million
Group revenue rose 2 percent to A$7.9 billion from A$7.8 billion in the earlier period. Earnings per share were 10 cents and the company announced an interim dividend of 6 cents per share.
Qantas kept its pre-tax profit outlook of A$500 million for the 12 months to June 30.
Chairman Leigh Clifford said earnings were hit by the global economic downturn and volatility in currency and oil prices, but he insisted the company remained strong and profitable.
"Our revenues have come under pressure, but through calibrating our network, stimulating demand through attractive pricing, maximizing the performance of our diversified businesses and restraining costs we have achieved a very good result," Clifford said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
