Qantas Posts a Decent 1H Result Despite Higher Fuel Bill
No-moat-rated Qantas has had a challenging start to fiscal 2019, reporting an interim underlying profit before tax of AUD 780 million, down almost 20% on the previous corresponding period. Unsurprisingly, the main driver of the earnings decline was the AUD 416 million increase in fuel cost during the first half. The company was able to pass through some of the higher fuel price, as evidenced by the 6% increase in average unit revenue, although it was unable to fully offset the 10% growth in unit...Qantas Airways is engaged in the operation of international and domestic air transportation services, the provision of freight services and the operation of a Frequent Flyer loyalty program. Co. comprises following operating segments: Qantas Domestic, Qantas International, and Jetstar Group, all of which comprises its passenger flying businesses; Qantas Freight, which comprises its air cargo and express freight business; and Qantas Loyalty, which comprises its customer loyalty recognition programs.
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