to unravel this rather creative piece of corporate spin
Jetstar
Jetstar achieved an underlying EBIT of $107 million, a 4.9 per cent increase on the prior year.
A record PBT result of $137 million*, an 18 per cent increase on the prior year, included a one-off gain of $19 million on the equity gain on the reversal of a prior year investment impairment of Jetstar Asia and a $15 million equity accounted loss.
Passenger revenue increased by $211 million or 14.6 per cent. This was largely driven by the 14.4 per cent increase in capacity arising from the continued expansion of the airline’s international network.
Jetstar’s profit was adversely affected by $20 million in the last quarter, as a result of H1N1 influenza. Even though the Japanese market was significantly affected by the outbreak, Jetstar nevertheless made a profit from this market.
Included in the Jetstar results are the consolidated financials for Jetstar Asia/Valuair (from April to June 2009), equity accounted results for Jetstar Pacific and Jetstar’s Australian and New Zealand based operations. The change in structure of Jetstar Asia and Valuair aligned them more closely with Jetstar Australia.
