QANTAS releases 2012/2013 full year financial results

QANTAS has reported a $6 million statutory profit after tax in its 2012/13 full year financial results.

CEO Alan Joyce said the level of activity and achievement across Qantas Group over that time had been immense.

"We have launched a global partnership with Emirates - shifting our hub for Europe flights to Dubai - maintained our strong domestic market position with the Qantas-Jetstar dual brand strategy, continued building Jetstar in Asia, and achieved another record result with Qantas Loyalty[5]," Mr Joyce said in a media release.

"The market is very tough.  But we are focused on the elements we can control.  We have Australia's leading airlines and loyalty business - and we have a clear strategy to build an even stronger business for the future.

"Our financial position has been strengthened by the actions we have taken over past 12 months: reducing debt, extending our maturity profile and taking a prudent approach to capital expenditure."

In brief:

  • Underlying Profit Before Tax [1]: $192 million
  • Statutory Profit After Tax: $6 million
  • Strategic Qantas Transformation Benefits: $171 million
  • Comparable Unit Cost [2] Improvement: 5 per cent
  • Positive Net Free Cash Flow: $372 million
  • Liquidity: $3.4 billion
  • On-market share buyback to continue
  • No final dividend declared

Read the full media release on the QANTAS website.