The continued popularity of Asia has helped Qantas Airways towards better results, claims the airline’s chief executive officer.
The airline remains optimistic that earnings will be stronger over the coming months following the implementation of a three-year efficiency plan designed to reduce expenses and focus on the sale of profitable seats to a range of destinations such as Bangkok in Thailand.
He said: “There is still some weakness in the US and UK, but the Asian operations, the domestic operations and the Australian market are seeing a good recovery.”
Qantas reported an underlying profit before tax AUD$377 million (£216 million) for the year ending June 30th 2010. This result was in line with market expectations and is one of the few international airlines to record successive 12-month profits.
Written by Nicholas Scott