Half Year Results

[Flying Fox]

Excellent.

Now QF can bring back MASA's!

 

[medhead]

I'm more interested in the benefits JQ have got from 787s. In particular how their previously worst performing group, QFi, might have benefitted from the aircraft. Not to mention the plans to bring the 787 online with QFi so they can start to get similar benefits.

 

[yohy?!]

Thought that 737-800 were the newest type of plane that QF had acquired, surprising that they would let 6 of them go.
The 767s gave us many years of service, the 737-800s maybe max of 10 or so?/!

738s as a type have been around since 1998, there's a number of documentaries around about structural weaknesses they have which are quite interesting given how many VA and QF have around the traps

 

[Cool Cat Phil]

Good to see things are on the improve.

I agree entirely.

Certainly a massive turnaround from 12 months ago & certainly the mood on the ground & in the air with Qantas employees is very positive at the moment.

Crossing my fingers that these good results = more positive news In relation to an investment in QFi ( both network & fleet) is on the cards in the near future.

 

[yohy?!]

has anyone seen any figures on how much cost cutting contributed vs how much the 747 writeoffs biased the figures last year?

im curious to see if its indeed down to management or just common sense prevailing re the capacity war and cheaper fuel once the massive write off impairment is taken out of the mix...

 

[jimmylikesitwet]

has anyone seen any figures on how much cost cutting contributed vs how much the 747 writeoffs biased the figures last year?

im curious to see if its indeed down to management or just common sense prevailing re the capacity war and cheaper fuel once the massive write off impairment is taken out of the mix...

The write offs were reported separate to the pre-tax loss for FY14. Take a look at the investor presentations on the ASX site and it pretty much explains all the differences from one year to the next. The major one is the restructuring program. Cheaper fuel is less than 10% of the profit but will probably have a bigger impact in their 2nd half.

Investor Presentation: http://www.asx.com.au/asxpdf/20150226/pdf/42wwm37jvgr5zp.pdf

Supplementary Slides: http://www.asx.com.au/asxpdf/20150226/pdf/42wwm4zvncsk81.pdf

 

[moa999]

The write offs only reduced depreciation by I recall $80m a year - so $40m for the half -- presumably most allocated to international

 

[smit0847]

The majority of the transformation savings came from significant middle management job cuts as well as increased aircraft utilisation by re-jigging schedules, didn't it?

 

[UP4014]

Let's not forget there have been a lot of job cuts to help achieve this profit

Indeed, people lost their jobs for this media release to be a positive number.

Wonder if any things removed under the guise of 'better' from QFF will be re instated.......not holding my breath.

Wonder if the board thinks they will deserve a pay rise later this year at AGM time.

Matt

 

[UP4014]

I agree entirely.

Certainly a massive turnaround from 12 months ago & certainly the mood on the ground & in the air with Qantas employees is very positive at the moment.

Crossing my fingers that these good results = more positive news In relation to an investment in QFi ( both network & fleet) is on the cards in the near future.

So massive a turn around wouldn't it be good to see some of the other numbers prior to the big loss to get a true feel for what was being internally coded to which business and general ledger account.

Matt

 

[Deleted member]

Excellent.

Now QF can bring back MASA's!

thats exactly what i was going to say

 

[medhead]

Wonder if the board thinks they will deserve a pay rise later this year at AGM time.

Matt

IMO any board always thinks they deserve a pay rise with no apparent relationship to profit.

 

[codash1099]

thats exactly what i was going to say

And you are both deranged if you think that will happen!

 

[ComeFlyWithMe]

Apparently they've cut costs and improved customer satisfaction. But I'm looking around trying to find all those new satisfied customers... (tumbleweed)...

 

[UP4014]

Apparently they've cut costs and improved customer satisfaction. But I'm looking around trying to find all those new satisfied customers... (tumbleweed)...

My opinion has sunk over 2014 not improved, a survey of 1.

 

[MEL_Traveller]

Apparently they've cut costs and improved customer satisfaction. But I'm looking around trying to find all those new satisfied customers... (tumbleweed)...

If they have improved customer satisfaction maybe it's come from all those happy bunnies who demanded (and received) charging for exit rows, and enforcement of the QC dress code.

Although Cafe Breakfast has been modified/expanded, so that will have made aforementioned happy bunnies a little less happy...

 

[codash1099]

Not everyone thinks the future is rosy.

Qantas finds clear air, but at what cost? | The New Daily

 

[JohnK]

Great news.

Does this now mean the fuel surcharge will be reduced accordingly? And there'll be more awards seats?

 

[Mr_Orange]

Great news.

Does this now mean the fuel surcharge will be reduced accordingly? And there'll be more awards seats?

Rhetorical questions, I assume?

 

[juddles]

Indeed, people lost their jobs for this media release to be a positive number.

Wonder if any things removed under the guise of 'better' from QFF will be re instated.......not holding my breath.

Wonder if the board thinks they will deserve a pay rise later this year at AGM time.

Matt

Qantas management just can´t win can they? If they run at a loss they get lambasted, if they reduce staff and manage to run the airline at a profit then they are evil.