Qantas flying into better conditions
Qantas Airways Limited (QAN) said that improving conditions had seen the airline raise its expectations of pre-tax profit to between $50 million and $150 million for the six months to 31 December. The news has seen Qantas shares surge in morning trade, up 12c, or 4.4% to $2.86 by 1118 AEDT.
“Operating conditions have improved when compared to the second half of the 2008/09 financial year with passenger volumes and yield improving,” the airline said in a statement.
Last year for the six months to 31 December 2008, the profit was $288 million
Qantas said that the forecast remained hinged to volatile factors as fuel prices and exchange rates.
The airline reported a 6.9% jump in passenger numbers over the previous year, including a 9.7% jump in November alone.
Revenue seat factor, a key measure of profitability for an airline was at 82.3%, up 4% from the previous year.
However domestic and international yields were 8.9% and 23.2% lower than the previous corresponding year respectively.
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