Qantas records strong profits

AFP, SYDNEY: Australia’s Qantas unveiled plans for the world’s longest non-stop commercial flight Friday, calling it the “last frontier of global aviation”, as it posted healthy annual net profits on the back of a strong domestic market.

The firm, which hopes to fly non-stop from Australia to London and New York by 2022, announced a 17.2 per cent slip in annual net profit to Aus$852 million (US$673 million) after record results last year.

The airline’s underlying profit before tax—its preferred measure—was the second-highest in its history at Aus$1.4 billion for the year to June 30, matching forecasts.

The results came after the completion of an aggressive three-year restructuring process that saw it slash jobs and reduce its fleet.

Qantas records strong profits

AFP, SYDNEY: Australias Qantas unveiled plans for the worlds longest non-stop commercial flight Friday, calling it the last frontier of global aviation, as it posted healthy annual net profits on the back of a strong domestic market. The firm, which hopes to fly non-stop from Australia to London and New York by 2022, announced a 17.2 per cent slip in annual net profit to Aus$852 million (US$673 million) after record results last year. The airlines underlying profit before taxits preferred measurewas the second-highest in its history at Aus$1.4 billion for the year to June 30, matching forecasts. The results came after the completion of an aggressive three-year restructuring process that saw it slash jobs and reduce its fleet.