Qantas passenger numbers up 5.6% in May
June 30, 2010
Across the Qantas Airways Limited (QAN) group May passenger numbers climbed by 5.6% from the previous May, however revenue seat factor, a key measure of profitability for an airline, fell 2.7% to 75%. However for the financial year to date at the end of May, revenue seat factor came in at 80.7%, 1.2% higher than in the previous year.
Qantas noted that increased competition continued in the low-fare aviation market, however Jetstar International and Jetstar Asia were the only two businesses in the airline’s portfolio to lift its revenue seat factor.
Those two businesses carried nearly twice as many passengers as the previous corresponding period, however still carry only around 15% the number of passengers of the flagship carrier, Qantas.
Despite this, the airline said the premium market, including the business travel market, continued to improve “demonstrating the positive effect of the portfolio strategy.”
Qantas said it had hedged 50% of its fuel requirement in 2010/11 at a worst-case crude oil price of US$90 per barrel including option premium.
”At current rates, Qantas has 84 percent participation in falling oil prices for the year.”
At 1017 AEST, Qantas shares were trading down 4c to $2.19.
Qantas noted that increased competition continued in the low-fare aviation market, however Jetstar International and Jetstar Asia were the only two businesses in the airline’s portfolio to lift its revenue seat factor.
Those two businesses carried nearly twice as many passengers as the previous corresponding period, however still carry only around 15% the number of passengers of the flagship carrier, Qantas.
Despite this, the airline said the premium market, including the business travel market, continued to improve “demonstrating the positive effect of the portfolio strategy.”
Qantas said it had hedged 50% of its fuel requirement in 2010/11 at a worst-case crude oil price of US$90 per barrel including option premium.
”At current rates, Qantas has 84 percent participation in falling oil prices for the year.”
At 1017 AEST, Qantas shares were trading down 4c to $2.19.
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