Qantas Group expects 2HFY2013 underlying profit before tax in the USD186m to USD238m range

Qantas Group expects (15-Nov-2012) to report underlying profit before tax in the range of AUD180 million (USD186 million) to AUD230 million (USD238 million) for the six months ending 31-Dec-2012. The group expects capital expenditure to reduce by AUD100 million (USD103 million) compared with previous forecast of AUD1.8 billion (USD1.9 billion). Outlook for 1HFY2013 includes the following:

• Capacity: Group capacity is expected to increase by between 1% and 3% year-on-year. Total domestic capacity (comprising Qantas Domestic, QantasLink and Jetstar Domestic) is expected to increase by between 7% and 9%;
• Yield: Group yield (excluding the impact of foreign exchange movements) is expected to be lower in 1HFY2013 compared to 1HFY2012, largely due to increased capacity in the domestic market;
• Fuel costs: Underlying fuel costs (excluding the impact of the carbon tax) for 1HFY2013 are expected to be approximately AUD2.2 billion (USD2.3 billion). [more - original PR]