Qantas expects to ring up as much as $925 million in pre-tax profit for the six months from July to December 2015, more than doubling its take compared to the previous period in 2014.
In a 'market update' forecast issued today, Qantas tipped the underlying profit for the first half of the 2016 financial year before tax as being "in the range of $875 million to $925 million."
Significantly, those numbers are close to the $975 million which Qantas chalked up for the full 2015 financial year – which points to a bumper billion-plus result when the airline shares the spreadsheet for the full 2016 financial year.
Wind the clock back to this time a year ago and Qantas was looking at $367 million in pre-tax profit – numbers which represented a dramatic recovery from a year prior, when Qantas reported a $252 million loss.
Tailwinds for the Flying Kangaroo include increased ticket revenue, lower fuel prices and the continued fruits of a wide-reaching ‘transformation’ project designed to strip out $2 billion in costs by 2018.
"We’ve seen improved revenue in our domestic and international operations, reduced costs across the Group through the Qantas Transformation program, and expect another record half-year result from Qantas Loyalty," commented Qantas Group CEO Alan Joyce.
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