Qantas’ earnings drop AU$179 million

Qantas has reported underlying profit before tax of AU$780 million while statutory profit was AU$735 million.

Compared with its result of last year, that’s a drop of AU$179 million at the underlying level – and despite a AU$416 million increase in its fuel bill.

Qantas Loyalty achieved another record result with profit up 4%. This was driven by the strength of the Frequent Flyer program and its growing list of retail partners, as well as continued revenue growth from new ventures – like health insurance and financial services.

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