Qantas profits on track to recovery as long haul changes take effect

A much improved financial performance from Qantas' international operation along with strong results from Jetstar and Qantas Loyalty has allowed the airline to return to the black, reporting a profit after tax of AUD111 million (USD113.6 million) for the first six months to 31-Dec-2012, a 164% turnaround from the same period in 2011.

All operating segments in the group were profitable with the exception of the Qantas International segment. However losses in this segment reduced to AUD91 million (USD93 million) million from AUD262 million (USD268 million).

In a generally unexciting result - not a bad thing these days - Qantas continued to show a profitable streak, with its virtuous frequent flyer programme continuing to stand out as a cash cow.