Qantas results 28Aug .

[smit0847]

Turn around times for QFd to be reduced. What are they now for 737s? 40 minutes? Will this reduce to 35? I think VA do 30 by use of rear stairs?

 

[Sojourner]

They will announce plans to set up a premium airline within Asia.

Didn't they already do this when they announced the "Red Q" premium airline for Asia? This was announced... then dumped before it was even launched.

The reaction from my partner when I told her about the Red Q announcement was, "Isn't Qantas supposed to be the premium airline"?

My response: "Not anymore."

Trash the Qantas brand, try to start a new one... go figure.

 

[smit0847]

'The Group expects a return to an Underlying Profit Before Tax in the first half of FY15, subject to factors outside its control.'



I assume they're already preparing the list of what these factors are?

 

[JessicaTam]

There is due to be a press conference with AJ on ABC starting anytime now.

 

[Warks]

This bad?
Qantas shocks with $2.8b full-year loss - ABC News (Australian Broadcasting Corporation)

 

[vitagen]

I Don't see any hope for QF to bounce back.

 

[Rareified Air]

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

That might let them buy a few more aircraft but I suspect an analysis of the accounts would find that the cash is allocated against fuel, redundancies, and existing aircraft purchase contracts. Probably not a war chest but a war lunch box.

 

[vitagen]

They should be looking at expanding routes.... I Don't understand the logic of selling aircraft and contracting routes? I would have figured for an airline to make money you need to sell seats on a plane!

 

[Brettmcg]

Might have been nice to credit that to LiamR and myself, smit0847

 

[docjames]

Gee there's some interesting bits and pieces there. Still looking through all the bits and pieces.

500m+ in loss due to excess capacity - accounting for nearly all the loss and should have been "in control"

200m pa saved annually now ongoing in QFi due to fleet value write down - will help annual profit

Overall strikes me as taking one big hit for the "miracle turnaround" - some of this should have been done years ago.

 

[Slats7]

Qantas dives to record $2.8 billion annual loss

QANTAS has posted a massive $2.8 billion net loss as it wrote off a big chunk of its fleet and moved to take as much pain as possible in the previous financial year.

The net loss was almost double the worst expectations of analysts although the underlying pre-tax loss of $646m was better than consensus estimates.


The net loss of $2.84 billion for the year to June 30 compared with a $1 million profit a year ago.


The loss included a massive fleet writedown of $2.6 billion, including its flagship A380 fleet and its ageing Boeing 747s.


The airline said the write-off represented the difference in the value of the dollar at the time of purchase and today’s value of 93c.
The average value of the fleet at time of purchase was 68c.

Cookies must be enabled. | The Australian

 

[smit0847]

This bad?
Qantas shocks with $2.8b full-year loss - ABC News (Australian Broadcasting Corporation)

No, its a $650m loss. The other $2.15b is an accounting exercise that they have chosen to do this year rather than any other.

 

[JessicaTam]

"A new holding structure and corporate entity for QFi" due to relaxing of ownership rules.

 

[Captain Halliday]

"Freezing domestic capacity growth until the end of Q1 '15" - Price signalling anyone?

 

[markis10]

"Freezing domestic capacity growth until the end of Q1 '15" - Price signalling anyone?

I would be worried about the new yield system.

 

[Red Roo]

"A new holding structure and corporate entity for QFi" due to relaxing of ownership rules.

This may answer some of your queries regarding Qantas International: Qantas International

 

[smit0847]

Might have been nice to credit that to LiamR and myself, smit0847

Sorry Brett - I wasn't sure who actually prepared it. I'll update my original post.

 

[JessicaTam]

B787-900 options to be pushed back from 2016 until 2017 and then brought into the "Qantas fleet"

edit: just confirmed they will go to JQ

 

[Sojourner]

B787-900 options to be pushed back from 2016 until 2017 and then brought into the "Qantas fleet"

So it is possible new aircraft could go to Jetstar (as part of the 'Qantas fleet') instead of QFi or QFd... going by what has been done in the past, this is what I expect.

Jetstar gets new aircraft, QFi and QFd gets the old stuff.

 

[harvyk]

Jetstar gets new aircraft, QFi and QFd gets the old stuff.

And they then wonder where rumors about them trashing QF in favour of bringing in JQi as "Australia's International Airline" comes from.