CHICAGO (dpa-AFX) - Australian airline Qantas Airways Ltd. (QAN.AX, QUBSF.PK) reported that its profit attributable to Members of Qantas for the year ended 30 June 2015 was A$557 million, compared to a loss of A$2.843 billion last year. Earnings per share was 25.4 cents compared to a loss of 128.5 cents in the prior year.
The Qantas Group's full-year 2014/2015 Underlying Profit Before Tax was A$975 million, compared to an Underlying Loss Before Tax of A$646 million in 2013/2014. The significant improvement in earnings was driven by the delivery of a reduction in operating expenses, fuel efficiency initiatives, and revenue benefits from the A$2 billion Qantas Transformation program.
Revenue and other income for the year rose to A$15.816 billion from A$15.352 billion last year.
Group capacity (Available Seat Kilometres) increased by 0.4 per cent, and demand (Revenue Passenger Kilometres) increased by 2.6 per cent, resulting in a 1.7 percentage point increase in Revenue Seat Factor.
Qantas Group capacity is expected to increase by 3 - 4 per cent in the first half of financial year 2016 compared to the first half of financial year 2015.
Underlying fuel costs in financial year 2016 is expected to be no more than A$3.94 billion, A$3.64 billion at current forward Australian dollar prices.
In addition, Qantas said it will acquire eight Boeing 787-9 aircraft, to be delivered from calendar year 2017 and gradually replace five older Boeing 747s.
Qantas will retain 15 further options and 30 purchase rights for additional B787s, with significant flexibility over the timing of delivery should they be exercised.
Copyright RTT News/dpa-AFX