Qantas’ first-half profit flat amid external headwinds
Qantas saw its half-year underlying profit before tax come in flat at A$771m (US$512m), with higher revenues helping to offset external headwinds. Group revenue for the first half of its 2020 fiscal year, which ended Dec 31, rose 3% to $9.46b. A 3% climb in passenger revenue helped the carrier to offset a 6% decline in cargo revenue. The increase in group revenue was notable, despite what the carrier calls “temporary headwinds” from the protests in Hong Kong, weaker freight demand from the US-China trade war, increases in non-fuel costs due to foreign exchange, and a loss of earnings from the sale of its domestic terminals to airport operators. The airline also saw its statutory net profit declining 4% to $445m. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-21/oneworld/qantas2019-first-half-profit-flat-amid-external-headwinds
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Qantas’ first-half profit flat amid external headwinds
Qantas saw its half-year underlying profit before tax come in flat at A$771m (US$512m), with higher revenues helping to offset external headwinds. Group revenue for the first half of its 2020 fiscal year, which ended Dec 31, rose 3% to $9.46b. A 3% climb in passenger revenue helped the carrier to offset a 6% decline in cargo revenue. The increase in group revenue was notable, despite what the carrier calls “temporary headwinds” from the protests in Hong Kong, weaker freight demand from the US-China trade war, increases in non-fuel costs due to foreign exchange, and a loss of earnings from the sale of its domestic terminals to airport operators. The airline also saw its statutory net profit declining 4% to $445m. <br/>
