I've just waded through all the underlying profit crap in all the stuff posted on the ASX, and it says there is no more standard profit guidance being given only some new form of horse**** that says it really made $267 million not $90 million...
I hope he flies an aircraft better than he understands financial accounting.
Jabba, the pre-tax profit it is actually 1.3% margin on total revenue of $6.9 Bn.
Statutory earnings per share of 2.6 cents
Which, at the current share price, equates to a 0.96% return on share holder investment!!
QAN margin is extremely "thin". Fortunately increased demand for air travel should see improved results in the current half year.
RedTBar, the Jetstar versus Qantas debate is irrelevent as JetStar is merely a business unit within Qantas/QAN - the financial results reflect the consolidated performance of the entire Group.
If your suggestion that JetStar under performed financially were correct, the same arguement could be used to cut or terminate low yield Qantas flights and the group should concentrate only on high yield, high profitability flight sectors.
And we all know that can't happen.........
But you are correct, Qantas made a profit and the prognosis for the future must be for improved financial performance.