Sign 'O' the times
In the same breath where Q indicates falling profits.....
QANTAS Airways expects a fall of up to 91 per cent in its full year underlying profit due to the troubled European economy and soaring fuel costs.
Qantas today said it expected its underlying profit before tax in the year to June 30 to be in the range of $50 million to $100 million.
That would be down from an underlying profit before tax of $552 million in the previous financial year.
"The forecast result reflects the recent deterioration in global aviation operating conditions driven by the European economic crisis, the group's highest ever jet fuel bill, and substantial capacity increases in the domestic market that have reduced yields," Qantas said in a statement.
Virgin announces increased ties with E....
ETIHAD Airways has a bought small stake in Virgin Australia.
THE United Arab Emirates-based airline has acquired a 3.96 per cent holding in Virgin Australia through purchases made on the Australian sharemarket in recent weeks, it said in a statement today.
The strategic holding will strengthen the commercial benefits of an alliance struck between the two airlines in 2010, Etihad said.
One Co all doom and gloom(we'll all be rooned), whereas the other appears so attractive that other Co's want a piece of the action.
With A.Joyce at the helm of Q, VA can't help but appear profitable!