Qantas Group delivers strong returns for FY 2017 in all areas

On Friday August 25, the Qantas Group released preliminary results for the full 2017 Financial year ending June 30, and the underlying profit was the second-highest in the company’s history at AU$1,401bn before tax. This figure was down 8.6% on last year’s record figures, but was higher than anticipated, thanks to the strengthening of its domestic business. The Statutory Profit Before Tax was AU$1.181m. As a summary of all results, on a combined basis Qantas and Jetstar had an underlying EBIT of AU$865m, while Qantas International posted an underlying EBIT of AU$327m. The Jetstar Group delivered its second-highest profit in its 19-year history of operations. Qantas Loyalty booked a record AU$369m Underlying EBIT on a 4% percent increase in revenue. As the Group’s CEO, Alan Joyce commented: “Three years ago, we started an ambitious turnaround program to make the Qantas Group strong and profitable. We tackled some difficult structural issues, became a lot more efficient and kept improving customer service. Today’s announcements show this plan has well-and-truly paid off. It’s delivered AU$3.5bn in cumulative underlying profit, record customer satisfaction and the opportunity for Qantas to grow. (US$1.00 = AU$1.26 at time of publication.)