Qantas Airline announces profit results

Australian airline Qantas has released its profit result for the year ending June 30th 2010.The airline enjoyed a “strong performance”, it said, and saw an underlying profit before tax of some $377 million (£215.8 million) as well as revenue of $13.8 billion.

Chief executive officer of the group Alan Joyce said: “While global trading conditions remained challenging, they continued to improve, and the Qantas Group has delivered a strong result, more than tripling its full year profit year-on-year.”

He added that the positive results had been helped by the “prudent” approach to financial management that the firm has.

Other important results included an operating cashflow of $1.3 billion and a total cash balance of $3.7 billion.

Unit costs across the entire Qantas Group, with the exception of fuel, were down by around 4.3 per cent, the company said.

Qantas Airlines currently flies to over 50 destinations within Australia.

Written by Ruth Norris