Qantas announces a $975 million profit

[Skystar320]

[/URL]

[url]http://www.news.com.au/video/id-BtNDE0dzq010UwxNPvxGj50c7kBIdrIP/Qantas-announces-975-million-profit (http://http://www.news.com.au/video/id-BtNDE0dzq010UwxNPvxGj50c7kBIdrIP/Qantas-announces-975-million-profit)


Interesting...

[Ollie Onion]

So how about we have a bit of positivity now, we may not agree with the management of the airline, investment decisions etc but the group is now profitable with new aircraft coming to Qantas mainline which will bring new opportunities for many.

Regardless of who is in charge perhaps we have ahead of us now a few years of positive news and developments after the grind of the last few.

[Captain Gidday]

Q&A session after announcement:
Transcript:
Alan Joyce - "Thank you for flying over from Perth, Geoffrey. I hope you got one of those new fantastic sleeper seats"

Geoffrey Thomas - " No, I got one of the old, not so fantastic....."

Alan Joyce -" Aaaaah. I should have lined that up first".

Geoffrey Thomas- "I was very disappointed".

[TBM-Legend]

The good old Australian whinge>>>

A freebee for Geoff and he still can't be happy...

[CurtainTwitcher]

No more snout in the trough for you Geoffrey after your "Great Wall" faux pas.
'I did not see Great Wall from space': Yang Liwei

China's first astronaut Yang Liwei said in an interview on the China Central Television Thursday evening that "I did not see the Great Wall from space."

China's first astronaut Yang Liwei said in an interview on the China Central Television Thursday evening that "I did not see the Great Wall from space."

However, he said the Earth looked "very beautiful."

There was a popular saying in China that the Great Wall was the only manmade architecture that could be sighted by naked eyes in space. http://en.people.cn/200310/17/eng20031017_126232.shtml

I wonder how Liwei's career went after that comment.

[Berealgetreal]

Billion dollar profit. Sounds like a Game
Changer.

[Keg]

And a billion dollars worth of retired debt as well.

[Icarus2001]

After going to the brink of aviation oblivion a few years ago, Qantas has turned around it financial woes with a full year after-tax profit of $557 million.

As it's turned out, plummeting oil prices shaved $597 million off the airline's costs, far and away the biggest contributing factor to the turnaround.

The much vaunted transformation program, which resulted in the loss of thousands of jobs, certainly has delivered the goods in stripping out expenses, with operational costs falling $224 million. But that was less than half the savings on fuel.

In fact, without the fuel saving, the Flying Kangaroo would possibly still be in the red.

Source:Qantas swings back to $557m profit, announces $505m shareholder payment - ABC News (Australian Broadcasting Corporation) (http://www.abc.net.au/news/2015-08-20/qantas-full-year-profit-2015/6710462)

[Oakape]

Doesn't even cover half of last years loss, so they must still be in financial trouble, surely. Or is it all just paper pushing & manipulation of their employees, the shareholders & the general public?

Don't know what is real with business anymore. Maybe I am just getting too old & am not up with the times.

[The Green Goblin]

Oakape,

They made a billion and they paid a billion off in debt, albeit they've sold the farm to do so.

In future hard times there may not be much left to sell. However the balance sheet is looking healthier especially with the liability of HK gone.

[dragon man]

I havn't the strength to read the dribble from Joyce however someone told me that he said the deal with pilots on the 787 was worth 30% to the company. I'm simple, only a pilot but some quick maths by me on a per pax cost to Lax of the 787 versus the 747 comes up with the following. It's not exact and feel free to correct me where I may be wrong in my assumptions. On a Syd Lax return pattern the 747 is approx 38 credits and 9 hours overtime the rates I use are from July 2017 on both types.Capt $301 per hour FO $198 SO $154 total $37,900. 370 seats cost per seat say $102.
787, Capt $318 per hour, FO $210 SO $111. Stick hours 31. Total cost $24,265
Now here's the difficult part, how many seats? United has 220 on the 789 so il use that and the per seat cost is $110. More than the current 747. If you go to 250 seats its $97 per seat. However the crewing costs are for year 1 crew on the 787 as against year 12 on the 747. After 4 years the 787 crewing costs have increased by about 7% while the 747 hasn't.
Long winded I know. However what I'm trying to get across is that I don't think the company's saving will be as great as they think.

[Tuner 2]

"However what I'm trying to get across is that I don't think the company's saving will be as great as they think."

Agreed. Most likely just trying to big-note themselves and put pressure on other unions. Good to see some mainline growth and the first new-type widebody order in 15 years though.

[Vref+5]

Isn't AJ's term coming to an end soon? Isn't it always funny how a company's profitability and future take a dramatic turn for the better as their term comes to a close? At the time his bonuses etc that are all based on the company's performance, are about to be calculated? Coincidence?

[IsDon]

Isn't AJ's term coming to an end soon? Isn't it always funny how a company's profitability and future take a dramatic turn for the better as their term comes to a close? At the time his bonuses etc that are all based on the company's performance, are about to be calculated? Coincidence?

AJ, no. Clifford, however, is likely to go soon. I'd say Clifford will go in the next year or so and have time in the seat before installing a new CEO of his choosing. For AJ to go first would require as new chairman to put up with a new CEO chosen by the chairman he replaced. Not ideal.

[Oakape]

They made a billion and they paid a billion off in debt

Ok, but they lost 2.8 billion last year. How have they covered that? Or was it not really lost & it was just an imaginary figure that a bit of creative accounting came up with?

[ohallen]

Isn't AJ's term coming to an end soon? Isn't it always funny how a company's profitability and future take a dramatic turn for the better as their term comes to a close? At the time his bonuses etc that are all based on the company's performance, are about to be calculated? Coincidence?

And just to back that up, check the number of companies where this happens and the first thing the new CEO does are writeoffs/write downs to clear the decks.That happens for two reasons, firstly to correct the financial manipulation of the outgoing to maximise bonuses, secondly to set up future super profits for themselves when they can be held to account and start the cycle all over again.

Dont know about anyone else, but why isnt this called for what it is???

QF is no different manipulate losses and bad news and then miraculously fix it all and set the angels loose in the media to spin the world. I wish these smartest guys in the room would just go away.

[Captahab]

Good on you Alan, well done mate :ok:

[V-Jet]

Dunno how to post this any other way, but this is an analysts view of Slater & Gordon share price and 'red flags' that should be noted. I see similarities - but who am I to know?


http://michaelsmithnews.typepad.com/.a/6a0177444b0c2e970d01bb0865a5c3970d-pi

Of course it would be nice to have 'proper' QF/J*accounts to base an opinion on ...

[34R]

Just think what the profit might have been if that much needed government assistance was sent their way!

[dragon man]

$55 million injection into Jetstar Japan, however it will soon be profitable. Have we heard this record before?

[mightyauster]

I smell BS and smoke and mirrors with this result. I seem to remember a massive turnaround and $300 million profit shortly before Ansett was sold to the Kiwis, only to go ***t up...

[Tankengine]

Executive bonuses all around!:*
"Proof" of the great job they are doing.:hmm: