Cost-cutting Drives Record Profits at Qantas | Aviation International News

Cost-cutting Drives Record Profits at Qantas

The Transformation Qantas initiative to reduce costs has resulted in an impressive turnaround in the fortunes of the Australian carrier.

Qantas has achieved significant improvements in operating margins on both international and domestic routes. [Photo: Qantas]

By Charles Alcock • Managing Editor

August 24, 2016

Australian flagcarrier Qantas Airways today reported record results for the 2016 financial year, achieving a 57 percent increase in underlying profit before tax of A$1.53 billion ($1.17 billion). The results, for the 12 months ending on June 30, mark an impressive turnaround from 2014, for which the airline suffered an after-tax loss of A$2.8 billion ($2.6 billion), and allowed it to give shareholders their first dividend in seven years.

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