Qantas Group will post a pre-tax profit of $500m to $550m for the year to June 30 despite another disastrous performance from its international division, CEO Alan Joyce said today. “Considering the challenges, this is a very good result,” Joyce said.
He revealed that the international business would lose around $200m with worse expected next financial year.
“Qantas International … has achieved required returns only three times in the past 15 years,” he said.
“Clearly the situation is not sustainable (and) we will take the hard steps necessary to turn this airline around.”
He said flight disruptions caused by the Chilean volcano had already cost the carrier $21m.