Qantas results 28Aug .

[Saab34]

Anyone know what time the conference starts this morning? Live feed anywhere？

 

[Sdtravel]

Couple of years ago i got a CX flight from SYD to HKG late one night. Both the QF and the CX flight take off and land at the same time.
Dont know if this is still the case but that is direct competition. Probably isnt a great idea.

 

[SQ421]

No wonder Qantas can,t compete on most overseas routes in my opinion is that their are too many airlines operating in & out of Australia.for example Cathay have 3-4 flights from Melbourne to H.K. .Maybe Qantas,s analysts should have done some more forward planning.they should ask the passengers which routes they would like to fly.

There aren't that many routes left out of Australia where there isn't another airline offering better value for money / product / service. Except across the pacific.

 

[Mr_Orange]

Couple of years ago i got a CX flight from SYD to HKG late one night. Both the QF and the CX flight take off and land at the same time.
Dont know if this is still the case but that is direct competition. Probably isnt a great idea.

SYD-HKG leaves in the morning now and is over night on the way back which is the same for BNE-HKG and MEL-HKG.

CX operate 2 flights per day to BNE, but I won't use the overnight CX return because it stops at Cairns at some unearthly hour in the morning.

 

[smit0847]

Anyone know what time the conference starts this morning? Live feed anywhere？

The best live blog you'll get is right here. From memory it kicks off around 10am with the big news wrapped up before 11.

 

[cmon0005]

http://www.asx.com.au/asxpdf/20140828/pdf/42rt768vx1f7lc.pdf

"The Qantas Group reported an Underlying PBT loss of $646 mil."

 

[markis10]

$646M loss. results are out

http://www.asx.com.au/asxpdf/20140828/pdf/42rt768vx1f7lc.pdf

Two 738s and two A332s to leave the fleet.

 

[cmon0005]

Biggest losers:
QFi $497mil loss
and surprise surprise JQ 'Group' $116mil loss

Biggest winners:
Loyalty $286mil profit
QFd $30mil profit
Freight $24mil profit

 

[Captain Halliday]

$2.84B loss is much worse than most were expecting.
QFF to stay in the QF group. No partial sale.

 

[cmon0005]

$2.84B loos is much worse than most were expecting.

That is post tax. the profit before tax was $646mil

 

[smit0847]

Media are reporting $2.84bn loss?!

 

[cmon0005]

Flicked through most of the ASX documents, can't see any mention of any further route cuts or staff cuts?

 

[Kendall Roy]

and surprise surprise JQ 'Group' $116mil loss

Before or after creative accounting?

Because those shiny new A320s parked in TLS have gotta be costing a bit!

But of course, no responsibility for poor decision making/failed strategy!

 

[cmon0005]

Before or after creative accounting?

Because those shiny new A320s parked in TLS have gotta be costing a bit!

But of course, no responsibility for poor decision making/failed strategy!

The only good news in this announcement is that QF 'won't establish any more Jetstar ventures in Asia at the moment'/

 

[smit0847]

(Credit to brettmcg and LiamR):

 

[Captain Halliday]

No feed that I've found but key points for those interested:

FINANCIAL
nderlying LBT: $646M
Non-cash write down: $2.6B
Stat Loss After Tax: $2.84B
Cashflow: $1.1B

OPERATIONAL
QFF to remain part of the QF Group - no partial sale
Looking to seel other non-core assets inc. terminals
No new JQ ventures at this stage
Further

OUTLOOK
Target further $300M savings from transformation
Pinning hopes on repeal of Carbon Tax (maybe this is too harsh, but it is specificly listed in their outlook notes)

 

[ABC1]

They do have $3.001 billion in cash in the bank.. I love a rainy day fund.. Is it raining now?

 

[Red Roo]

Flicked through most of the ASX documents, can't see any mention of any further route cuts or staff cuts?

There are no impacts on employees, operations or routes as a result of today's announcement.

Here are some facts about the financial results and a fleet update:

Qantas Group Financial Result

Qantas Group Fleet Update

 

[Jean Prouvaire]

Media are reporting $2.84bn loss?!

That's the headline loss after extraordinary items and tax. The biggest of these items is a $2.5 billion write down of the international fleet due to the Australian dollar being weaker at the time these places were purchased. See page 9 of the ASX release.

Restructuring costs accounted for another $400m+ write down, but realised $200m+ savings at the same time (which should be ongoing).

 

[opusman]

Here are some facts about the financial results and a fleet update:

Qantas Group Financial Result

What, no mention of expected savings due to Fairer™ & Simpler™ or withdrawal of MASAs? I assumed they were integral to QF's future success.