PPRuNe Forums - View Single Post - How to Fix the Qantas International Business
Old 2nd Aug 2011, 13:00
  #206 (permalink)  
600ft-lb
 
Join Date: Dec 2007
Location: The Bubble
Posts: 642
Likes: 0
Received 2 Likes on 1 Post
There is always going to be stories of people being hard done by thats a given.

But the simple fact is Qantas isn't losing money. Just need to look at the reports they must submit to the ASX, the numbers are juggled, shuffled to paint the perception that Qantas is losing money when in fact it isn't.

Just look at the numbers in the annual and half year reports. You can buy aircraft under one segment and lease them off to another segment to make them look good whilst taking the depreciation hit yourself, still doesn't change the fact that the cash is rolling in at a rate better then Singapore airlines.. and I'm talking about the Qantas segment only. Not counting the highly profitable muffin segment or the FF segment or the freight segment.

Just compare EBITDAR to Revenue which is the true measure of segment profitability before the fancy accountants get their hands on it to reduce the payable to tax to a fraction, at a few different airlines and you'll see for yourself.
600ft-lb is offline