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qf789
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Qantas annnounces strong profit in FY19 along with record revenue

Wed Aug 21, 2019 10:34 pm

Qantas has announced their financial results for FY 2019

Underlying Profit before tax $1.3 billion
Statutory Profit before tax $1.27 billion

Domestic underlying EBIT of $1.3 billion down 3%, revenue increased by 5%, Loads 78%
International underlying profit of $285 million, down 28%, revenue grew 6%, loads 86%
Network and fleets changes continue to deliver benefits such as PER-LHR and SIN hub services
Jetstae Japan delivered record profit, Jetstar Pacific remains unprofitable, NZ domestic services loss making, Jetstar Asia facing challenges
Qantas loyalty up 8% to underling EBIT of $374 million

https://www.qantasnewsroom.com.au/media ... t-in-fy19/
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boeing773er
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Re: Qantas annnounces strong profit in FY19 along with record revunue

Wed Aug 21, 2019 10:47 pm

Just a few years ago most of this thread thought QF on the verge of insolvency and they should move all their assets JetStar.

Good for them, strong quarter.
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downdata
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Wed Aug 21, 2019 11:06 pm

Eh what about JQ australia?
 
x1234
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Wed Aug 21, 2019 11:18 pm

I guess we will have to wait for the rumoured AA announcement tomorrow about what routes there are. The rumours are that AA expands to MEL and resumes AKL (year round).
 
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lightsaber
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Re: Qantas annnounces strong profit in FY19 along with record revunue

Wed Aug 21, 2019 11:24 pm

boeing773er wrote:
Just a few years ago most of this thread thought QF on the verge of insolvency and they should move all their assets JetStar.

Good for them, strong quarter.

For good reason. QF turned around. The EK JV helped. Now they are growing past the EK JV (project sunrise).

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Sydscott
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Wed Aug 21, 2019 11:55 pm

qf789 wrote:
Jetstae Japan delivered record profit, Jetstar Pacific remains unprofitable, NZ domestic services loss making, Jetstar Asia facing challenges /


Just to clarify this statement a little bit, Jetstar New Zealand domestic services are profitable BUT Jetstars regional services in New Zealand, ie their turboprop operation, are loss making. That's likely due to the significant ramp up of capacity by NZ which JQ hasn't responded to so at some point QF is going to have to make a choice about whether or not to fight back in NZ. (Not that I honestly think it's a choice. They've got to achieve scale in NZ with more than what they currently have)

Also nothing on new aircraft orders with the mention only of the A380 refurb, the 6 789's arriving for International and the preparations by JQ to induct the A321NEO from mid 2020. It's noted in the supplemental slides that the A321NEO LR's are to replace A320's in the JQ fleet.
 
aryonoco
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Re: Qantas annnounces strong profit in FY19 along with record revunue

Thu Aug 22, 2019 1:01 am

lightsaber wrote:
boeing773er wrote:
Just a few years ago most of this thread thought QF on the verge of insolvency and they should move all their assets JetStar.

Good for them, strong quarter.

For good reason. QF turned around. The EK JV helped. Now they are growing past the EK JV (project sunrise).



What helped even more than the EK JV was the ending of the capacity war with VA that was destroying both.

But one looks at VA's financials, with their lower starting cost base and without being shackled by legacy legislative requirements like QF, and one realises the amazing job that Alan Joyce has done turning QF around.
 
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SCFlyer
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 1:17 am

Despite the QF sales act limiting foreign ownership to 49%, QF at least fortunately didn't have to deal with the bickering boardroom of shareholders that their primary competitor (ala the likes of EY, SQ, QW, HU etc) has to face regularly. Even after the capacity war ended.

Joyce can be credited for turning QF around, as for their competitor (post capacity war), their woes are pretty much of their own doing with responsibility pointed at both the shareholders involved and the previous CEO (although as much as many want to squarely point the blame at him, some directions were clearly under the instruction of shareholders ala EY's PER-AUH 'non-flight' and HU/HX's HKG flights).
 
aryonoco
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 1:30 am

SCFlyer wrote:
Despite the QF sales act limiting foreign ownership to 49%


Unless I'm mistaken, there are other provisions in the Qantas Sale Act. Everything from the amount and type of maintenance that has to be carried out in Australia to services required to maintain.

At the end of the day, VA was able to tap into foreign capital from government-owned airlines to fund a battle against Qantas, and still lost.
 
tullamarine
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 1:36 am

Sydscott wrote:
qf789 wrote:
Jetstae Japan delivered record profit, Jetstar Pacific remains unprofitable, NZ domestic services loss making, Jetstar Asia facing challenges /


Just to clarify this statement a little bit, Jetstar New Zealand domestic services are profitable BUT Jetstars regional services in New Zealand, ie their turboprop operation, are loss making. That's likely due to the significant ramp up of capacity by NZ which JQ hasn't responded to so at some point QF is going to have to make a choice about whether or not to fight back in NZ. (Not that I honestly think it's a choice. They've got to achieve scale in NZ with more than what they currently have)

Also nothing on new aircraft orders with the mention only of the A380 refurb, the 6 789's arriving for International and the preparations by JQ to induct the A321NEO from mid 2020. It's noted in the supplemental slides that the A321NEO LR's are to replace A320's in the JQ fleet.

New Zealand domestic is a tiny market. So far Ansett, Qantas, Virgin and Jetstar have all tried to have a crack at it and none have made a viable business. Air NZ have a profitable business there, not because they are particularly good but they have first mover advantage in a market where the population is highly distributed and only about the same size as greater Melbourne. Realistically, there is limited growth available and, maybe JQ's cost base means QF can tolerate it, but it will never be much of a profit centre.
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SCFlyer
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 1:38 am

aryonoco wrote:
SCFlyer wrote:
Despite the QF sales act limiting foreign ownership to 49%


Unless I'm mistaken, there are other provisions in the Qantas Sale Act. Everything from the amount and type of maintenance that has to be carried out in Australia to services required to maintain.

At the end of the day, VA was able to tap into foreign capital from government-owned airlines to fund a battle against Qantas, and still lost.


There used to a 35% limit on a foreign shareholder until recently (basically 1 foreign shareholder can own up to 49% after changes went through in parliament). Not sure about the maintenance limit considering some of the maintenance on the QF WBs are done overseas.

Also led to worse circumstances for many of those shareholders after the dust has settled. Some in debt (e.g EY, HU) and others clearly no longer interested/hands-off when the financial drain continued after the war ended (e.g SQ), and of course NZ's pullout.
 
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qf2220
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 2:19 am

qf789 wrote:
Jetstar Pacific remains unprofitable

https://www.qantasnewsroom.com.au/media ... t-in-fy19/


This is incorrect - the press release says JQ Pacific remains profitable.
 
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qf789
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Re: Qantas annnounces strong profit in FY19 along with record revenue

Thu Aug 22, 2019 12:58 pm

Could we please keep posts on topic, topic is about Qantas not about Virgin
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