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Qantas Group underlying EBIT down 39% in 1HFY2012

16-Feb-2012 10:16 AM

Qantas Group revenue up 6% – financial highlights for six months ended 31-Dec-2011:

  • Revenue: USD8603 million, +6% year-on-year;
  • Costs: USD8307 million, +9%;
    • Fuel: USD2332 million, +26%;
    • Labour: USD2012 million, +2.0%;
  • Underlying EBIT: USD296 million, -39%;
    • Qantas: USD69.2 million, -60%;
    • Jetstar: USD154.2 million, +3%;
    • Qantas Frequent Flyer: USD124.8 million, -37%;
    • Qantas Freight: USD39.9 million, -7%;
  • Net profit: USD44.1 million, -83%;
  • Passenger numbers: 23.7 million, +3%;
    • Qantas: domestic: 8.7 million, -3.2%;
    • Qantas International: 3.1 million, +0.3%;
    • Jetstar domestic: 5.4 million, +10.1%;
    • Jetstar international: 2.3 million, +11.6%;
    • Jetstar Asia: 1.6 million, +11.8%;
  • Load factor: 80.7%, -1.0 ppt;
    • Qantas: 81.1%, -1.3 ppts;
    • Jetstar: 79.9%, +0.3 ppt;
    • Qantas Freight: 54.6%, -5.7 ppts;
  • Yield^: USD 11.97 cents, +4%;
    • Domestic: +5%;
    • International: +3%;
  • Net underlying unit cost: USD 5.85 cents, -3%;
  • Total assets: USD22,426 million, +2.5% when compared to period ended 30-Jun-2011;
  • Cash and cash equivalents: USD3505million, -4.4% when compared to period ended 30-Jun-2011;
  • Total liabilities: USD15,936 million, +3.3% when compared to period ended 30Jun-2011;
  • 2HFY2012 forecast:

*Based on the conversion rate at USD1 = AUD0.935443

^Excludes foreign exchange

Qantas: “The operating environment and economic outlook for the second half of 2011/12 remains challenging and volatile. Seasonal factors typically drive stronger revenue in the first half of the financial year compared with the second half of the year (ending 30 June). Following fare increases and fuel surcharges announced in February 2012, Group forward bookings continue to indicate higher yields in the second half of 2011/12 compared with the second half of 2010/11.” Source: Company statement, 16-Feb-2012.