Qantas reports profits of AUD648.4m

Airline Industry Information, August 19, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

Australian airline Qantas has doubled its full year profits but warned that high fuel prices were likely to add AUD400m to its fuel bill in 2004.

Qantas said its net profit reached a record AUD648.4m in the year ended 30 June 2004 up from AUD343.5m in 2003. Despite the record results profits fell below analysts predictions of AUD660m.

The airline said that overall the results were good after cost cutting and growth in passenger traffic and said that bookings were looking strong on both domestic and international routes, reports Reuters.

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