The Qantas Group has reported underlying profit before tax of AU$1.6 billion (up 14%) for the 2018 financial year and statutory profit before tax of AU$1.4 billion (up 18%). Net free cash flow was up 10% to AU$1,442 million
The Group reported that all parts of the business contributed to the result, helped by healthy levels of demand across key markets, higher revenue and a particularly strong performance in the domestic flying businesses of Qantas and Jetstar.
The Qantas Group has also committed to a second Pilot Academy facility, which will help meet the unprecedented global demand for skills as the aviation sector continues to grow. The academy concept is designed to provide a future talent pipeline for Qantas Group airlines and support General Aviation in a country that relies heavily on air transport. It also represents a commercial opportunity to create a centre of excellence to train pilots for airlines throughout the region.
The concept has been met with substantial levels of support from state governments, local councils and the private sector.
Qantas has set aside a total of AU$20 million towards establishment of the two facilities. Both will be located in regional Australia, with cities to be announced in coming weeks. The first location will open during calendar year 2019 and the second expected to follow in 2020.
Furthermore Qantas has announced an extension of its global lounge upgrade program, designed to support demand for premium travel across six additional ports. They are:
Updated and expanded Sydney International First Lounge, major upgrade to the Auckland Lounge, refreshed Tokyo Narita Lounge, expanded Brisbane International Lounge and two regional lounge upgrades for Tamworth and Hobart.
