Qantas half year 2015 financial results

[6680740]

Underlying Profit Before Tax: $367 million
Statutory Profit After Tax: $206 million
Transformation benefits: $374 million
Comparable unit cost reduction: 4.8 per cent[1]
Cash generated from operations: $1 billion
Positive net free cash flow: $194 million
Liquidity: $3.6 billion, including $2.9 billion cash
Earnings per share: 9.2 cents
No interim dividend

Any other announcements on routes etc????

[Alien Role]

And not ONE WORD from Joyce or Creedy about the effect of a 4.5% pay cut enforced on the people who produce "the goods"!!


Role on.....

[Bahama Breeze]

"We're parking 'em!" lol

[Buttscratcher]

Righteo Big Al, time to pony-up with our EBAs matey!

[moa999]

Nothing about 787s

Some very limited fleet news:

From Pg. 11 of the Supp slides (available on ASX website)
Net reduction of up to 7 aircraft during 2H15
– 1 aircraft delivery: 1xB787 - 8
– Reduction of up to 8 aircraft: 1xB747 - 400, 1xQ300, up to 6xB737 - 800

The reduction in 737-800s from 75 to 69 (with no alternate aircraft) is interesting.

[FO_cloudbuster]

The reduction in 737-800s from 75 to 69 (with no alternate aircraft) is interesting.

How many aircraft in the jetconnect fleet are there?

[Capt_SNAFU]

Andrew David said that he has not signed off on any reduction of the 737-800 fleet other than the 2 previously announced. He is not sue of where the number came from? Could be an error or just management speak.

Signing off of a favourable EBA seems to be one of the things management say they need to get a new aircraft type for mainline over the line at the board level. Which is probably true.

[pilotchute]

I liked how they said long haul wouldn't get any 787s until the division showed some continued profit. How are they expected to do that with 20 year old 74s when everyone else has 777s and 787s?

[Keg]

I haven't had a chance to do the hunting myself but any idea how much debt has been retired amongst those numbers?

[Fruet Mich]

I suspect the only way this crowd makes money is by selling assets.

[wheels_down]

Jetstar Asia commenced operations 10 years ago.

Still no profit. Still losing 50m a year.

1 Billion in losses to date?

[dr dre]

The number of 6 fewer 738 airframes is a possibly due to an increase in utilisation of the aircraft. They'll need less frames for the same amount of hours.

[HappyBandit]

So mainline losing frames...Qlink gaining frames?? Yay!!! We getting jets! :}

Ahhh yep, I definitely need to get out more! :)

[Ngineer]

And that my friends is how you cook the books.

Now if only our credit rating wasn't tarnished during this whole exercise, then maybe the half yearly would be a tad bit stronger.

Give it another 18 months before we see a better credit rating.

[Bad Adventures]

Seams like a no-brainier to have bought in at $1.40 a share when oil prices started falling. With a 2 billion dollar profit on the horizon due to a halving of the oil price a $5 share price is not unreasonable. Anyone a gambler?

[AviatoR21]

HB, and thinking about Lear45 jobs in Calcutta won't help!

[onetrack]

I suspect the only way this crowd makes money is by selling assets.No, they make money by not providing even a basic entertainment system for the SLF.
The last 3 times I've flown domestically with the red rat (in the last 9 mths), it's been the same story every time.
When the bloke in the LH seat up the pointy end, has to apologise for a total lack of an entertainment system, it's beyond a joke to still call yourself a "full service" airline. :}

[Arnold E]

Come on you guys, the "man" is a financial genius, what are you on about?

[C441]

Come on you guys, the "man" is a financial genius, what are you on about?

Yeah, you lot! Who else could so brilliantly institute a transformation program that would so dramatically lower fuel prices and the Australian dollar. Genius!:)

[moa999]

Jetstar Asia commenced operations 10 years ago.
Still no profit. Still losing 50m a year.
1 Billion in losses to date? If you read the results, Singapore (ie. Jetstar Asia) made money in 2Q, but lost money in 1Q... And it has previously made small profits -- in both 2013 and 2014

The Asian losses are coming from Vietnam (Pacific), Japan (much more recent startup) and Hong Kong (a 2+ y/o airline with lots of planes and costs but no routes)

[AEROMEDIC]

Yup, the difference it makes. Currency rates and fuel.
And the drain on the company by Jetstar Hong Kong and Jetstar Japan prevented greater profits.
The great strategy of Asia has failed and the Chinese will ensure it continues to fail, particularly when they have the upper hand.

[Sunfish]

Aeromedic:

[QUOTE]And the drain on the company by Jetstar Hong Kong and Jetstar Japan prevented greater profits.
The great strategy of Asia has failed and the Chinese will ensure it continues to fail, particularly when they have the upper hand./QUOTE]

As I have consistently said, the Qantas Asian adventure was always going to be a disaster right from the very start.

I also venture to suggest that without the windfall of lower oil prices Qantas would perhaps be still in the Red.

[Fruet Mich]

Interesting to note, with the 738's being sold and another 74 leaving the qantas fleet, Jetstar will now have more jet aircraft than Qantas. No orders for qantas, but still a few 787's to come to Jetstar and crap loads of A320's on order. Very sad indeed.

[FYSTI]

I also venture to suggest that without the windfall of lower oil prices Qantas would perhaps be still in the Red.
Was it a windfall or reversion to the mean?


This chart [Note it is inflation adjusted to 2014 dollars]
makes the case for reversion to the mean. It could also explain the choice to go with the A380 in 2000 at a low point in the cycle.

http://inflationdata.com/Inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart_small.jpg
https://zend2.com/vip3.php?u=http%3A%2F%2Fwww.pprune.org%2F%26quot%3Bhttp%3A%2 F%2Finflationdata.com%2FInflation%2Fimages%2Fcharts%2FOil%2F Inflation_Adj_Oil_Prices_Chart_small.jpg%26quot%3B&b=4

Raw data is here: Historical Oil Prices: InflationData.com (https://zend2.com/vip3.php?u=http%3A%2F%2Fwww.pprune.org%2F%26quot%3Bhttp%3A%2 F%2Finflationdata.com%2FInflation%2FInflation_Rate%2FHistori cal_Oil_Prices_Table.asp%26quot%3B&b=4)