Newspaper article The Morning Bulletin (Rockhampton, Australia)

Qantas Lifts First-Half Profit; Net Profit for the Six Months Came in at $241M

Newspaper article The Morning Bulletin (Rockhampton, Australia)

Qantas Lifts First-Half Profit; Net Profit for the Six Months Came in at $241M

Article excerpt

QANTAS Airways Ltd has signalled a double-digit increase in capacity across its group of airlines after posting a fourfold lift in first-half net profit led by its mainline operations.

The result may have been even better were it not for the grounding of the A380 fleet in November last year due to an engine explosion, Qantas said yesterday.

Net profit for the six months to December 31, 2010 came in at $241 million, up $183 million or 316% from the prior corresponding period.

The result was slightly below market expectations of $278.5 million, according to the median of four analysts' forecasts gathered by AAP.

Qantas said the engine explosion would have a full-year economic impact of $80 million to $55 million in the first half of 2010/11 and a forecast $25 million in the second.

The airline forecast an 11% increase in capacity across its group of carriers in the second half of 2010/11, compared with the prior corresponding half.

Qantas said its mainline domestic operations would boost the number of seats by 4. …

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