Qantas profits quadruple despite A380 impact
Qantas Group posted a four-fold increase in half-year net profits to AUD241 million (USD240.6 million). Underlying profit before tax rose 56% to AUD417 million as revenues increased 10% to AUD7.59 billion, despite the Nov-2010 mid-air engine explosion which grounded the carrier’s A380 fleet for two months and presented “significant operational challenges” for the carrier. Qantas CEO Alan Joyce added he expects underlying profit will be “materially higher” in the full year.
