Qantas rebounds from loss to post $162 M half-year profit

Staff Writer
Columbus CEO

SYDNEY (AP) — Qantas Airways Ltd. has posted a 206 million Australian dollar ($162 million) profit for the first six months since it recorded a $2.6 billion loss for the year.

Australia's largest airline said in a statement Thursday that the latest profit for the six months through December was its best half-year result since 2010.

Qantas said the improvement reflected its restructuring program, reduced depreciation, increased revenue per seat, the removal of Australia's carbon tax in July last year and lower fuel prices.

Qantas said it could give no full year guidance due to the high degree of volatility and uncertainty in global economic conditions, fuel prices and foreign exchange rates.

Last year's result included an AU$2.6 billion write down of the value of its aging international fleet.