By Expert Panel 29.08.2013
REPORTING SEASON: Qantas Airways Limited (QAN)
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Figure 1: Qantas Airways Limited 12 month chart
Qantas Airways Limited (QAN) reported it Full Year results today.
Qantas made a Statutory profit over the year of $5million compared to a loss of $245Million in 2012.
Thanks to a slow but steady turn around in its international business helping to offset weakness on its domestic routes.
The tie up with Emirates is showing advantages even at this early stage but management did say that the current market is tough.
The slide in the Australian dollar is hitting jet fuel prices and its transformation program is still underway.
Qantas revenue per passenger kilometres (RPK) fell by 1% over the year.
Qantas domestic revenues fell 21% to $365Million, while Qantas International still posted a loss of $246Million but this was a vast improvement on 2012.
Qantas loyalty listed a 13% rise in revenue up to $36Million while Freight revenues fell by 20%.
Fuel costs were lower over the year but still cost the firm $4,243Million.
Qantas will once again not pay out a dividend for the 2H.
You can see all of CommSec's reporting season analysis by clicking here.
Juliana Roadley, Market Analyst,