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QF First Half Result - AUD$223m Profit  
User currently offlineSydscott From Australia, joined Oct 2003, 3138 posts, RR: 20
Posted (1 year 9 months 1 week 4 days 11 hours ago) and read 6030 times:

QF have reported first half results today. A Statutory net profit of $111 million and an underlying profit of $223 million.

http://www.asx.com.au/asxpdf/20130221/pdf/42d51vs93fkymf.pdf

Segment results include;

- $91 million loss for QF International, an improvement of $171 million;
- $218 million profit for QF Domestic, down from $328 million if first half of 2012.
- $128 million from Jetstar, down from $147 million in first half of 2012;
- $137 million from QF Loyalty, up from $119 million in first half of 2012
- $22 million from freight, down from $38 millin.

$3.5 billion of cash on hand.

64 replies: All unread, showing first 25:
 
User currently offlinefiscal From Australia, joined Oct 2009, 334 posts, RR: 0
Reply 1, posted (1 year 9 months 1 week 4 days 11 hours ago) and read 6031 times:

Things seem to be improving then.....

User currently offlineSydscott From Australia, joined Oct 2003, 3138 posts, RR: 20
Reply 2, posted (1 year 9 months 1 week 4 days 11 hours ago) and read 6035 times:

http://www.asx.com.au/asxpdf/20130221/pdf/42d525lvtqds0y.pdf

QF have also announced a major refurbishment of the A330 fleet and will acquire 5 additional 737-800's for QF Domestic.

That means that all 10 A330-300's and 20 A330-200's will have flat beds in business class. So the A332's coming back from JQ will be significantly upgraded.


User currently offlineZKOKQ From Australia, joined Mar 2012, 480 posts, RR: 0
Reply 3, posted (1 year 9 months 1 week 4 days 11 hours ago) and read 6020 times:

Things are looking good for QF! Lets hope the momentum will continue.

Well done to Alan Joyce and the team at QF.


User currently offlineMikey86 From Australia, joined Jul 2011, 161 posts, RR: 0
Reply 4, posted (1 year 9 months 1 week 4 days 11 hours ago) and read 6002 times:

Sad to see the 767 go   But a much needed retirement for QF.


mikey86 - Greenslopes, Queensland
User currently offlinejetblueguy22 From United States of America, joined Nov 2007, 2822 posts, RR: 4
Reply 5, posted (1 year 9 months 1 week 4 days 11 hours ago) and read 5904 times:
AIRLINERS.NET CREW
HEAD MODERATOR

Glad to see QF is turning things around. It should be interesting to see how much the EK partnership helps. I've only flown them a couple of times but I enjoy their service quite a bit.
Pat



All of the opinions stated above are mine and do not represent Airliners.net or my employer unless otherwise stated.
User currently offlineEK413 From Australia, joined exactly 11 years ago today! , 4987 posts, RR: 4
Reply 6, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5848 times:

Bloody fantastic result considering the position QF was in same time last year...

Well done AJ and QF!!!

Bring on DXB!!!

EK413

[Edited 2013-02-20 15:25:04]


Good evening, ladies and gentlemen. We are tonight’s entertainment!
User currently offlinebobloblaw From United States of America, joined Jan 2012, 1725 posts, RR: 1
Reply 7, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5837 times:

Their improvement is all international. What is happening in the domestic market that has caused a reduction in profits.

User currently offlinejrfspa320 From Australia, joined Sep 2005, 253 posts, RR: 0
Reply 8, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5836 times:

Will the a330 have the new Y, any chance of putting in Y+?

User currently offlineZKOKQ From Australia, joined Mar 2012, 480 posts, RR: 0
Reply 9, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5826 times:

Quoting bobloblaw (Reply 7):

Maybe the war after the grounding and the switch to another airline? People searching for a better price, ie using Tiger?


User currently offlineRyanairGuru From Australia, joined Oct 2006, 5906 posts, RR: 5
Reply 10, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5814 times:

Quoting Sydscott (Thread starter):
$91 million loss for QF International, an improvement of $171 million;
- $218 million profit for QF Domestic, down from $328 million if first half of 2012.
- $128 million from Jetstar, down from $147 million in first half of 2012;
- $137 million from QF Loyalty, up from $119 million in first half of 2012
- $22 million from freight, down from $38 millin.

Overall very impressive! It's great to see that International is improving, and that Loyalty - the unsung hero of the Group - is still performing strongly. We knew the Domestic was going to take a hit given the fair war that VA unleashed, but hopefully that should stabilise during 2013. Perhaps the biggest concern is freight. Does anyone know why that aspect is performing weaker this year?

Reading the media release in #2, I find it interesting that it looks like the 332s are going to be 100% domestic and the 333s 100% international. I guess that sort of makes sense, but I wonder if 10 A330s is enough for their Asian network? I'm counting BNE-HKG (1), MEL-HKG (1), BNE-SIN (1), MEL-SIN (1), SYD-SIN (1), PER-SIN (1), SYD-CGK (1), SYD-MNL (1), SYD-BKK (1), SYD-PVG(1) = 10, no spares, and this assumes that SYD-NRT remains a 747.

Also I'm saddened to see that the 734s will be gone by the end of this year   As I am CBR based, virtually all of my flying is on 734s (or Q400s if going to SYD). While they are showing their age, they have wormed their way into my heart. I'm going to miss my pet Kookaburra (i.e. VH-TJE)



Worked Hard, Flew Right
User currently offlineaussie747 From Australia, joined Aug 2003, 1163 posts, RR: 0
Reply 11, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5785 times:

Quoting bobloblaw (Reply 7):
What is happening in the domestic market that has caused a reduction in profits.

Probably the bloodbath that domestic is at the moment
- Tiger is ramping up
- QF forced to lower yeilds esp in business class to compete with VA
- VA increase its corporate share of the market

All of the above is squeezings QF bottom line.


User currently offlineQFVHOQA From Australia, joined Mar 2012, 493 posts, RR: 0
Reply 12, posted (1 year 9 months 1 week 4 days 10 hours ago) and read 5724 times:

These results seems to bolster Alan Joyce's plans for QF. Though I am questioning that all A332's are going domestic. Might be tough to fill an A333 to all their Asian destinations. And with no slack in the A330 fleet for the refurbishments, perhaps another destination will go - MNL?

It was very interesting that since the EK partnership, bookings to some EU destinations are way up compared to the BA partnership. "We sold 4 times the number of seats to BCN, 13 times more to MUC, 14 times more to CPH and 17 times more to MXP."
Qantas 2012/13 Half-Year Results - CEO's Address


User currently offlinevhebb From Australia, joined Apr 2011, 200 posts, RR: 0
Reply 13, posted (1 year 9 months 1 week 4 days 9 hours ago) and read 5644 times:

I assume the A333 and A332s will be getting the same cabins so they can be interchanged between international and domestic.

User currently offlineSydscott From Australia, joined Oct 2003, 3138 posts, RR: 20
Reply 14, posted (1 year 9 months 1 week 4 days 9 hours ago) and read 5569 times:

Quoting vhebb (Reply 13):
I assume the A333 and A332s will be getting the same cabins so they can be interchanged between international and domestic.

I assume that as well. Interestingly enough there is no mention of Skybeds in media release or supplementary materials however they have distinctly said "flat bed". I wonder if this means a totally new seat which is standard for Domestic and Regional flying? That would certainly make sense.

Quoting QFVHOQA (Reply 12):
"We sold 4 times the number of seats to BCN, 13 times more to MUC, 14 times more to CPH and 17 times more to MXP."

And this is only the first initial burst of bookings, there are still alot more destinations and combinations to come which will add to QF's bookings. It's definitely a step in the right direction though!


User currently offlinelegacyins From United States of America, joined Aug 2003, 2135 posts, RR: 0
Reply 15, posted (1 year 9 months 1 week 4 days 9 hours ago) and read 5551 times:

According to this article, $125m was from compensation from Boeing for the 787 delay.

http://sg.news.yahoo.com/qantas-wins...rofit-rises-222922736--sector.html



John@SFO
User currently offlineSydscott From Australia, joined Oct 2003, 3138 posts, RR: 20
Reply 16, posted (1 year 9 months 1 week 4 days 8 hours ago) and read 5420 times:

Quoting RyanairGuru (Reply 10):
SYD-CGK (1), SYD-MNL (1)

Don't forget that neither of these are daily flights. SYD-CGK and SYD-MNL are both 4 weekly at the moment so you have spare capacity in these two routes.

Not forgetting that with the A332 having lie falts, HNL was finally have a QF mainline aircraft with lie flat seating installed. So that'll be an improvement!


User currently offlinetullamarine From Australia, joined Aug 1999, 1625 posts, RR: 0
Reply 17, posted (1 year 9 months 1 week 4 days 7 hours ago) and read 5369 times:

Quoting Sydscott (Reply 14):
I assume that as well. Interestingly enough there is no mention of Skybeds in media release or supplementary materials however they have distinctly said "flat bed". I wonder if this means a totally new seat which is standard for Domestic and Regional flying? That would certainly make sense.

I believe it will be different seating. As I understand it, the Skybed is heavier and less space efficient than "off-the-shelf" J class seating like the Weber seats used by VA and SQ on their A330s.



717,721/2,732/3/4/5/7/8/9,742/3/4,752/3,762/3,772,W,310,320/1,332/3,388,DC9,DC10,F28,F100,142,143,E90,CR2,D82/3/4,SF3,AT
User currently offlineRyanairGuru From Australia, joined Oct 2006, 5906 posts, RR: 5
Reply 18, posted (1 year 9 months 1 week 4 days 7 hours ago) and read 5348 times:

Quoting Sydscott (Reply 14):
I wonder if this means a totally new seat which is standard for Domestic and Regional flying? That would certainly make sense.

Yep, that's what the press release that you linked said: "a new flat seat in business class"

Quoting QFVHOQA (Reply 12):
It was very interesting that since the EK partnership, bookings to some EU destinations are way up compared to the BA partnership. "We sold 4 times the number of seats to BCN, 13 times more to MUC, 14 times more to CPH and 17 times more to MXP."

I can only speak from one personal example: my mother. She takes several business trips per year to the USA, China and the UK.

She has been loyal to CO, and then UA, since 1995 when CO launched MAN-EWR. At the time we lived in the UK, and all her business travel was to the USA so it made sense. But she has stuck with them (and by extension SQ to Asia/UK) until now.

Given that her business in Asia is in China/Hong Kong - and never SE Asia - we had discussed the benefits of moving to OW for CX. Also, given that she lives in BNE, she has to connect in SYD or AKL to go to the USA. Obviously QF15/16 or QF8 are significantly more convenient. After the EK announcement she has finally decided to take the plunge and move over to QF. In the past 6 weeks she has already booked two business trips to the UK, which would have gone to SQ just a few months ago.

She is UA 1K [MileagePlus goes Silver, Gold, Platinum, 1K] so she is a pretty significant passenger to pick up, and QF snagged her because of EK. I'm sure she isn't the only one...



Worked Hard, Flew Right
User currently offlineLufthansa From Christmas Island, joined May 1999, 3224 posts, RR: 10
Reply 19, posted (1 year 9 months 1 week 4 days 6 hours ago) and read 5255 times:

Quoting RyanairGuru (Reply 18):
She is UA 1K [MileagePlus goes Silver, Gold, Platinum, 1K] so she is a pretty significant passenger to pick up, and QF snagged her because of EK. I'm sure she isn't the only one.

Nope I'm hearing the same thing. That this FINALLY gives them the option of enabling them to stay loyal to one scheme for all their travel. I have a friend with family in Scotland that was thrilled. He easy does 100K a year and usually J long haul, sometimes F but never in Y unless it's domestic. I myself have friends in CPH, that split their time between Australia and Denmark. They used to use Thai. Not anymore, its now EK/QF!

Regarding the seat, I wouldn't be surprised to see the thompson vantage suite turn up.
http://www.thompsonaero.com/index.php/products/vantage-suite

It doesn't take up anymore room than lie flat at an angle seats, and has had a lot of success on the A330/A340 at Swiss, Finnair and Delta soon (and they're happy with one offering 1 seat less abreast on the 767). It's pretty much an off the shelf product that will just require some QF styling (shouldn't be too hard swiss tarted it up nicely but Finnair and delta left it looking a tad boring).


User currently offlineQFVHOQA From Australia, joined Mar 2012, 493 posts, RR: 0
Reply 20, posted (1 year 9 months 1 week 4 days 6 hours ago) and read 5187 times:

Quoting Lufthansa (Reply 19):
Regarding the seat, I wouldn't be surprised to see the thompson vantage suite turn up.
http://www.thompsonaero.com/index.php/products/vantage-suite

The EADS Sogerma "Solstys" seat seems to be all the rage at the moment. But maybe QF will go with it's partner AA's new J seat? The one borrowed from CX?


User currently offlineRyanairGuru From Australia, joined Oct 2006, 5906 posts, RR: 5
Reply 21, posted (1 year 9 months 1 week 4 days 6 hours ago) and read 5143 times:

Quoting QFVHOQA (Reply 20):
EADS Sogerma "Solstys" seat seems to be all the rage at the moment
Quoting QFVHOQA (Reply 20):
maybe QF will go with it's partner AA's new J seat? The one borrowed from CX?

The "problem" (if you want to call it that) is that those seats are too "different" to the SkyBed. I think that QF would want to keep an element of continuity between their J products.

Delta is one airline that has virtually chosen every design of J seat on the market, meaning that their long haul fleet is a bit of a mixed bag. United is another, although in that case it is because of different seat decisions by PMUA and PMCO*

Singapore Airlines, though, does have a 2 tier long haul/regional product, so I guess QF might go down that route.

Quoting Lufthansa (Reply 19):
Regarding the seat, I wouldn't be surprised to see the thompson vantage suite turn up.

I personally agree. That or the BAE Diamond: http://www.beaerospace.com/products/seating_business_class.htm
(most notably of CO and the new AA flagship product)



*somewhat bizarrely UA and CO actually use the exact same seat (BAE Diamond) but you would never actually know that, for a start UA's are installed omni-directionally.



Worked Hard, Flew Right
User currently offlinemariner From New Zealand, joined Nov 2001, 25579 posts, RR: 86
Reply 22, posted (1 year 9 months 1 week 4 days 5 hours ago) and read 5081 times:
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Quoting fiscal (Reply 1):

Things seem to be improving then..

You wouldn't know it if you only read Ben Sandilands over at Crikey, but those who are less determined to be a smart-arse than he is think that yes, they are improving.

Although even he, fairly gracelessly in my view, admits that times are (and have been) tough.

mariner

[Edited 2013-02-20 20:49:44]


aeternum nauta
User currently offlineEK413 From Australia, joined exactly 11 years ago today! , 4987 posts, RR: 4
Reply 23, posted (1 year 9 months 1 week 4 days 5 hours ago) and read 5009 times:

Quoting QFVHOQA (Reply 12):
And with no slack in the A330 fleet for the refurbishments, perhaps another destination will go - MNL?
Quoting Sydscott (Reply 16):
Don't forget that neither of these are daily flights. SYD-CGK and SYD-MNL are both 4 weekly at the moment so you have spare capacity in these two routes.

Let's not forget the 2 routes mentioned have received from time to time a B763 sub due to low demand so perhaps this is the plan too... I'm sure QF can sacrifice either a International OR Domestic B763 to operate MNL or CGK...

EK413



Good evening, ladies and gentlemen. We are tonight’s entertainment!
User currently offlineSydscott From Australia, joined Oct 2003, 3138 posts, RR: 20
Reply 24, posted (1 year 9 months 1 week 4 days 4 hours ago) and read 4959 times:

Quoting EK413 (Reply 23):
I'm sure QF can sacrifice either a International OR Domestic B763 to operate MNL or CGK...

For relatively short routes, I'm sure the new Domestic A332's will be fine. If it's good enough for HNL at almost 10 hours, MNL and CGK shouldn't be an issue. That would free an A333 frame for something else.


25 QF15 : BNE-SIN is staying 744 for the forseeable future, so there's 1x free A333.
26 Lufthansa : Yep and later in the year QF5 reverts back to 744 according the the current schedule (I checked for August!) so there is another A330 free. (SYD-SIN)
27 Lufthansa : PS - well done to QF. this is a good result considering the challenges.
28 EK413 : TG you better watch your back as QF is coming after you with a 9:30am departure I'm confident QF will steal a few passengers from TG... EK413
29 smi0006 : Good to seem the improvement in both international and domestic products. Although end of 2014 when they will start to be seen is a long log way a way
30 airnewzealand : I know of atleast one aircraft with new 738 interior (without PTV's) but new bulkhead, dividers and overhead lockers. All of the 'old' builds will mo
31 Post contains images sydscott : We will find out next week. I tend to assume that the older 738's won't be getting PTV's but instead will receive IPAD's in the same way the 763's ha
32 SYDSpotter : Is it a case of stemming the losses (through the reduction in routes since last year) or are things actually improving for QF International? IMO, the
33 qf002 : Progress! QF will have made a remarkable transformation once these initiatives (plus others like the new uniforms, upgrades to J service, new internat
34 Auchmithie : Without figures this statement from Mr Joyce is a nonsense. Could be they've sold 4 and not 1 seat to BCN etc etc.......
35 airnewzealand : Qantas is moving in a cycle in regards to cabin upgrades/service 'enhancements'/soft changes. The Business Service changes are still not complete, an
36 mariner : If they have sold four seats instead of one, the statement is still true. Barcelona is one of my favourite cities in Europe, but I can't imagine ther
37 Post contains images lightsaber : Congrats to QF. The EK partnership should boost revenue and cut costs nicely. Besides the competition, how is the Australian domestic economy doing? O
38 sydscott : And I think Alan Joyce was referring to a particular booking week as well when he made that statement. It's an example, and a pretty powerful one, of
39 QFVHOQA : I think it shows that people are willing to book QF for status/points reasons, as all these flights were already available as EK flights. I doubt man
40 Auchmithie : Yes. However the Qantas revenue share of 1 seat on QF metal to LHR and then a BA codeshare LHR-BCN may well exceed that of 4 seats to BCN if flown en
41 Post contains images mariner : Indeed, and I assume some may fly Emirates all the way. I doubt all of them will. For myself, I like to swap airlines whenever I can, experience as m
42 fiscal : Barcelona is an up and coming cruise port, and Aussies do like a cruise. I second that, and when they are well frozen, all the better, (just have to
43 Post contains images mariner : Sure, and now they can get there. But they can also take cruises from many other ports in the UK and Europe. Don't get me wrong - Barcelona was a con
44 gemuser : I read the statement that QF has seen the four fold increase, not EK. To me that means the pax flew QF to DXB then EK, otherwise the new arrangement
45 Post contains images sydscott : If only we could get them out of Sydney as well.....................but then that's what we have Jetstar for. I would seriously doubt that although w
46 Post contains images RyanairGuru : You are missing the point. Very few people (including loyal QF passengers) were prepared to go through LHR to get to FCO or ZRH, for example. You are
47 qf002 : Cheers! Looking forward to hearing about some more of the changes. What they're doing at the moment using international aircraft on domestic flights.
48 Auchmithie : Provided that they sell that seat when they now only have London O&D to do it. With Mr Joyce's claim that there's now up to 17 x the number of no
49 sydscott : When this all comes out in the wash, it'll be interesting to see what QF/EK do to maximise the use of the combined LHR slots. It makes no sense for Q
50 allrite : What about the 747s used to SCL?
51 QFVHOQA : WIth EK maxed out at LHR with 5x daily A380's they may need the QF A380's to carry more pax. There are rumours on another thread that EK is consideri
52 Post contains images EK413 : Probably under the management of GD yes but not under AJ I'm looking forward to these changes too... Certainly going to be a step up of the current p
53 Lufthansa : Also regarding the A330s, well, I wouldn't be surprised to see MNL dropped for Jetstar. It's a low yielding destination anyway, and a lot of the traff
54 gemuser : Are you sure they are still coming? I thought they had been deferred too! [I hope you are right!!!] Gemuser
55 Post contains links legacyins : You are correct, they are deferred until 2016/17. http://www.news.com.au/travel/news/q...nding/story-e6frfq80-1226346506848
56 QFVHOQA : If JQ take over MNL, SYD-CNS-MNL is within reach of an A320. This could be timed to meet up with the DRW-MNL-NRT flight.
57 Lufthansa : Well assuming Boeing gets its act together they will end up with more 787s then the A332s they are replacing. That's rome for more routes/destinations
58 sydscott : Rome? That's being a bit ambitious! :P That's been rumoured for ages and hasn't happened. Personally I wouldn't be surprised to see it, but it has su
59 fiscal : If you are referring to the PO Fun cruises, I could not agree more...
60 RyanairGuru : OK, I didn't realise #13-14 were deferred as well, plus - as noted - I'd forgotten SCL In that case... Unless something radical happens, they're out o
61 gemuser : Damm! I hoped you were right! Gemuser
62 trent1000 : (Partly) how QF does it - QF kept $200+ of mine towards a future ticket. You have one year to redeem your 'voucher', so Qantas keeps your money &
63 Zkpilot : So with a divisional split its harder for some JQ costs to be shifted to QF (particularly Intl) so Intl is now looking closer to where it should be. I
64 SYDSpotter : Whilst I have some sympathy for you, the no refund policy would've been spelled out for you at the booking stage. If they hadn't informed you of the
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