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Qantas FY2009 revenue down 6.9%, net profit down 88%

19-Aug-2009 11:31 AM

Qantas revenue down 6.9% - consolidated financial highlights for the 12 months ended 30-Jun-2009:

  • Revenue: USD12,026 million, -6.9% year-on-year;
    • Qantas: USD9,678 million, -9.7%;;
    • Jetstar: 1,530 million, +18.4%;
    • Qantas Freight: USD892.6 million, -5.3%;
    • Qantas Frequent Flyer: USD936.4 million, +33.5%;
  • Costs: USD11,859 million, +0.6%;
    • Labour: USD3,045 million, +4.3%;
    • Fuel: USD2,977 million, -2.7%;
  • Operating profit (loss): USD167.8 million, -85.1%;
    • Qantas: (USD63.6 million), compared to a profit of USD1,017 million in the previous corresponding period;
    • Jetstar: USD104.1 million, +23.5%;
    • Qantas Freight: (USD12.4 million), compared to a profit of USD65.3 million in the previous corresponding period;
    • Qantas Frequent Flyer: USD256.2 million, +142.2%;
  • Net profit: USD96.7 million, -87.9%;
  • Passenger numbers: 38.4 million, -0.5%;
    • Qantas Domestic: 16.4 million, -4.2%;
    • QantasLink: 4.1 million, -2.0%;
    • Jetstar Domestic: 8.1 million, +6.8%;
    • Qantas International: 7.2 million, -11.0%;
    • Jetstar International: 2.1 million, +34.6%;
    • Jetstar Asia: 463,000, n/a;
  • Load factor: 79.6%, -1.1 ppt;
    • Qantas Domestic: 79.2%, -1.2 ppt;
    • QantasLink: 68.2%, 68.2%, -3.1 ppts;
    • Jetstar Domestic: 80.9%, +0.9 ppt;
    • Qantas International: 81.3%, -1.2 ppt;
    • Jetstar International: 74.1%, +1.1 ppt;
    • Jetstar Asia: 76.0%, n/a;
  • Passenger revenue per RPK: USD 9.3 cents, -4.3%;
  • Unit cost per ASK ex fuel: USD 4.7 cents, +5.1%.
  • *Based on the conversion rate at USD1 = AUD1.21 [more]

Qantas: “We are also keeping a close watch on oil and fuel prices. While well below the record levels seen in 2008, they remain volatile and are trending upwards. For 2010, the Qantas Group has hedged 80% of fuel costs at a worst case price of USD89 per barrel,” Alan Joyce, CEO. Source: Qantas, 19-Aug-2009.

Qantas: “There are signs of an improvement in passenger volumes. In addition, yields have stabilised at the levels experienced in the second half of the 2009 financial year. High levels of volatility in the economic outlook, industry capacity, passenger demand, fuel prices and exchange rates continue. Given the high level of uncertainty it is not possible to provide any profit guidance,” Company statement. Source: Qantas, 19-Aug-2009.