But excluding Jetstar – which analysts today described as the ‘‘only shining light’’ – the group’s monthly traffic figures reveal the toll the battle with Virgin for passengers on domestic routes is having on the core driver of Qantas’s earnings.
Ummm? Exactly how do these analysts derive a decline in yield from these monthly passenger figures?
The ASX release only provides a yield for total group domestic. You cannot determine yield for the individual segments from the ASX release. To determine yield, you need to know the revenue figure for each segment, the ASX release does not provide that information.
So either:
1. These analysts do not know what they are talking about, but are somehow trying to derive yield from RPK's alone.
2. Qantas is providing extra financial information to a select group of analysts - probably highly illegal.
My money is on 1.