Qantas says transformation on-track; data suggests profit in 1QFY2015 and expected in 1HFY2015

Qantas Group CEO Alan Joyce, speaking at the carrier's AGM, said (24-Oct-2014) "the evidence shows and grows daily" that the carrier is on-track with its transformation programme, stating that preliminary data "suggests an underlying profit before tax for 1QFY2015" and Qantas is "on track to deliver an underlying profit for 1HFY2015." Mr Joyce noted traffic statistics show passenger loads have increased "across the board" and that "yields at Qantas International have now been positive for six consecutive months." Mr Joyce continued, stating: "The Qantas Group benefits from the lower Australian dollar. It is already helping our business; international capacity growth is expected at 2.4%, this is below underlying demand growth for the first time in five years."