Alan Joyce Qantas Half Year Results
I’m very pleased to announce a record first-half performance for the Qantas Group. The Group has reported an underlying profit before tax of $921 million, up from $367 million in the first half last year. Our statutory profit before tax was $983 million, up from $289 million last year. This makes our 2015 calendar-year performance the best in the national carrier’s 95-year history.
Every segment of the Group has contributed strongly to today’s result, with each reporting a rate of return above our cost of capital. Qantas Domestic, Jetstar and Qantas Loyalty all achieved record results in the half. And combined earnings between Qantas Domestic and Jetstar Domestic rose more than 90 per cent to a record $556 million, as we continue to evolve the dual brand strategy.
Strong cash generation was another highlight, with operating cash flow of $1.4 billion – almost double the prior half year – and free cash flow of $770 million. This gives us a solid platform to invest in the future.
