Qantas Group underlying results exceed expectations in H1FY2017

Qantas Group revenue down 3% - financial highlights for six months ended 31-Dec-2016:

• Total revenue: AUD8184 million (USD6166 million), -3.3% year-on-year;
• • Passenger: AUD7064 million (USD5322 million), -3.3%;
  • Freight: AUD416 million (USD313 million), -9.2%;
• Total costs: AUD7235 million (USD5451 million), -2.7%;
• • Labour: AUD2027 million (USD1527 million), +6.0%;
  • Fuel: AUD1489 million (USD1122 million), -13.2%;
• Underlying EBIT: AUD949 million (USD715 million), -8.0%;
• • Qantas domestic: AUD371 million (USD279.5 million), -4.1%;
  • Qantas international: AUD208 million (USD156.7 million), -23.0%;
  • Jetstar Group: AUD275 million (USD207.2 million), +5.0%;
  • Qantas Freight: AUD27 million (USD20.3 million), -28.9%;
  • Qantas Loyalty: AUD181 million USD136.4 million), +2.8%;
• Net profit: AUD515 million (USD388 million), -25.1%;
• Passengers: 26.8 million, +2.1%;
• Passenger load factor: 81.0%, -0.2 ppt;
• Revenue per ASK: AUD 8.0 cents (USD 6.0 cents), -5%;
• Cost per ASK: AUD 6.9 cents (USD 5.2 cents), -5%;
• Cost per ASK excl fuel: AUD 5.0 cents (USD 3.8 cents), +2%;
• Total assets: AUD17,243 million (USD12,991 million);
• Cash and cash equivalents: AUD1668 million (USD1257 million);
• Total liabilities: AUD13,566 million (USD10,221 million). [more - original PR]

*Based on the average conversion rate at AUD1 = USD0.753416

Qantas Group: "In the second half of financial year 2017, Group capacity is planned to increase by approximately 1 -2 per cent compared with the second half of financial year 2016. Group International capacity is expected to increase by approximately 3 per cent in the second half, driven by the impact of previously-announced changes (e.g. Melbourne-Tokyo, Sydney-Beijing) using the existing Group fleet to target growing Asian markets." Source: Company statement, 23-Feb-2017.