Qantas reports 10% jump in half-year profits

Qantas Airways highlighted an improved performance by its struggling international business and a flood of bookings for a new alliance with Emirates, as the Australian flag carrier reported a 10 per cent increase in half-year profits.

Alan Joyce, chief executive, said losses in Qantas’s international business had shrunk 65 per cent to A$91 million in the second half of last year as Qantas scrapped unprofitable routes, retired older aircraft and consolidated maintenance activities.

Qantas reported profit of A$223 million in the six months ended in December.

This figure was helped by A$125 million in compensation from Boeing for the late delivery of Dreamliner aircraft and the subsequent cancellation of those orders.

– (Copyright The Financial Times Limited 2013)