I posted this in the Virgin results thread but equally pertinent here. This is QF management spin at its best!
Quote:
Virgin Australia Full Year Results
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Virgin Australia has reported a statutory Net Profit After Tax of $22.8 million. However, with a $29 million
loss in the second half of the year, Virgin's profit figures have disappointed some shareholders.
It's important to note that Virgin - with a domestic market share of around 30 per cent - made an underlying
EBIT of $115.6m, while Qantas and Jetstar - with a combined domestic market share of 65 per cent - made a
combined underlying EBIT of over $600m.
Virgin is half the size of Qantas yet its profit was just one sixth the size of ours. This shows the Qantas
domestic strategy to achieve a profit maximising 65 per cent market share target is working.