Qantas announces R1,9bn profit

AUSTRALIAN carrier, Qantas yesterday announced a profit before tax of A$530,3m (R2,8bn) for the six months to December 31, 2003. The net profit after tax was $357,8m (R1,9bn) The chairman of Qantas, Margaret Jackson, described the result as “excellent” given the circumstances existing in the aviation industry. Jackson said all the company's businesses had returned to profitability during the period, following the severe impact of the war in Iraq and Sars in the first half of 2003. "Qantas has responded quickly and effectively to the many challenges that have hit aviation in recent years, while continuing to invest in product, aircraft and technology," she said. The group’s total revenue for the half-year was A$5,8bn (R30bn), a decrease of $267,8m (R1,4bn) or 4,4%. (Miguel de Sousa)