Record profit for Qantas
Qantas this morning reported a $1.032 billion pre-tax profit for the year to 30 Jun 2007 - up a massive 54% on last year’s result. It was a good result for QF staff too, with each eligible employee granted $1000 in shares and a $1000 cash bonus.
Meanwhile, Tiger Airways has congratulated QF, saying the bumper figure “demonstrates that there is plenty of room in
the Australian market for Tiger”.
Seems the Australia-Asia market is continuing to boom. Will be interesting to see how the introduction of Tiger, and Virgin Blue's new US-Australia carrier (V Australia) will have on Qantas's profitability.