Qantas FY2016 results announcement - what to expect

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From Travel Daily:

Best result in the airline's 95-year history.*

Qantas has just released its financial results for the year to 30 June, with record profits recorded across the board. The statutory profit before tax was $1.42 billion - an increase of 80% year on year - and the "underlying profit before tax" figure used to gauge performance internally was $1.53 billion, up 57%.

[FONT=&quot]What an outstanding result. We should celebrate Mr Joyce's stoicism amidst the onslaught over the last 4 years of unwarranted criticism from ill informed politicians, resentful ex CEO's and bloody minded unions. Qantas has increased their profit while maintaining a quality full service airline product - and a robust low cost carrier in Jet Star. You only have too look as far as British Airways to see what happens to airlines that don't adjust to the changes in the market place.[/FONT]
 
[FONT=&amp]What an outstanding result. We should celebrate Mr Joyce's stoicism amidst the onslaught over the last 4 years of unwarranted criticism from ill informed politicians, resentful ex CEO's and bloody minded unions. Qantas has increased their profit while maintaining a quality full service airline product - and a robust low cost carrier in Jet Star. You only have too look as far as British Airways to see what happens to airlines that don't adjust to the changes in the market place.[/FONT]

I have to disagree, while AJ has headed an excellent profit result that does not mean mean there should not be criticism unless you think he is perfect :shock: which you are entitled to think.

I on the other hand think it takes a team of many to produce a result like this.

Matt
 
No A380 refresh announced. Same old business seats which I find strange comparing basically all competitors (and their own A330) have now gone 1-2-1.

They obviously feel they don't need to do it.
 
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Yes Matt you are right it does take a team - and they are to be congratulated. BUT it also takes a leader to set the goals - make the hard and unpopular decisions - and maintain them despite a constant barrage of criticism. It is no mean effort to motivate and encourage your staff to achieve such outcomes - especially when some of the decisions are tough and unpopular. Qantas has had a major turn around and although they have luck on their side with low oil prices - the outcome is still substantial.

I have to disagree, while AJ has headed an excellent profit result that does not mean mean there should not be criticism unless you think he is perfect :shock: which you are entitled to think.

I on the other hand think it takes a team of many to produce a result like this.

Matt
 
I have not taken a look, but has any capital dividends been announced, or from net profit dividends?
Edit: hmmm, 7 cents and a share sharebuyback. Meaning my holding will drop from 155 to whatever it will be. Maybe down to zero in a few years.
 
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Yes Matt you are right it does take a team - and they are to be congratulated. BUT it also takes a leader to set the goals - make the hard and unpopular decisions - and maintain them despite a constant barrage of criticism. It is no mean effort to motivate and encourage your staff to achieve such outcomes - especially when some of the decisions are tough and unpopular. Qantas has had a major turn around and although they have luck on their side with low oil prices - the outcome is still substantial.

Victory has a thousand fathers but failure is an orphan.

AJ deserves to be applauded - terrific result! Looks like the best man was selected all those years ago.
 
No A380 refresh announced. Same old business seats which I find strange comparing basically all competitors (and their own A330) have now gone 1-2-1.

They obviously feel they don't need to do it.

Given the 789s coming in next year and the current F cabin workshop - you could expect a semi-standardised product all at once in a years time. I am not sure how much slack is in the system at the moment to take any A380s offline and where they are up to with the timing of any upcoming checks - but this might come into play as well.
 
No A380 refresh announced. Same old business seats which I find strange comparing basically all competitors (and their own A330) have now gone 1-2-1.

They obviously feel they don't need to do it.

Or they don't feel they need to do it, or annouce it YET.

As for their competitors, all is a bit of a long bow. Plenty of routes where other carriers still fly 2-2-2 on the same routes as Qantas.
 
[FONT=&amp]What an outstanding result. We should celebrate Mr Joyce's stoicism amidst the onslaught over the last 4 years of unwarranted criticism from ill informed politicians, resentful ex CEO's and bloody minded unions. Qantas has increased their profit while maintaining a quality full service airline product - and a robust low cost carrier in Jet Star. You only have too look as far as British Airways to see what happens to airlines that don't adjust to the changes in the market place.[/FONT]

Considering $660M came solely from a reduction in fuel prices over the past year alone, it would have been difficult not to have increased net profit.
 
[FONT=&amp]What an outstanding result. We should celebrate Mr Joyce's stoicism amidst the onslaught over the last 4 years of unwarranted criticism from ill informed politicians, resentful ex CEO's and bloody minded unions. Qantas has increased their profit while maintaining a quality full service airline product - and a robust low cost carrier in Jet Star. You only have too look as far as British Airways to see what happens to airlines that don't adjust to the changes in the market place.[/FONT]

You didn't include an onslaught of unwarranted criticism from disgruntled customers. That's ok then, my criticism must be warranted.
Another thing, I cannot agree with the claim that he has maintained a quality full service product. Service and quality have not been maintained - there is obvious cost cutting in a number of areas.
 
I cannot agree with the claim that he has maintained a quality full service product. Service and quality have not been maintained - there is obvious cost cutting in a number of areas.

Obviously... But welcome to the real world. And as others have said look at airlines like BA, and the cuts that have been made there. Really highlights how good Qantas is, even with cost cutting.
 
You didn't include an onslaught of unwarranted criticism from disgruntled customers. That's ok then, my criticism must be warranted.
Another thing, I cannot agree with the claim that he has maintained a quality full service product. Service and quality have not been maintained - there is obvious cost cutting in a number of areas.

I think Qantas (both through their staff and his leadership), have done an amazing job indeed. That an Australian airline can survive in the global market and still be a fantastic product is very, VERY hard work. Congratulations to them all :)
 
Considering $660M came solely from a reduction in fuel prices over the past year alone, it would have been difficult not to have increased net profit.

CX must be very poorly managed... Nocookies | The Australian

Cathay Pacific Airways says its profit tumbled in the first half of the year as economic weakness in China and other important markets cut passenger demand.

Hong Kong's biggest airline on Wednesday posted interim net profit of 353 million Hong Kong dollars ($A59.12 million), down 82 per cent from the same period a year earlier.

The airline said its earnings were hurt by "economic fragility and intense competition" in the January-June period, putting sustained pressure on revenue, which fell 9.2 per cent.

The company, which also operates regional carrier Cathay Dragon, said passenger numbers rose 2.7 per cent but the money it earned from them fell 10 per cent.

Cathay said it expects business conditions to remain challenging for the rest of the year.
 
Considering $660M came solely from a reduction in fuel prices over the past year alone, it would have been difficult not to have increased net profit.

?????

Sure, fuel prices helped, but even so, it is incredibly difficult these days to not lose money with an airline. This is a huge turnaround for Qantas. AJ has earnt his pay. If they had some other wishywashy bloke that did not have the b.lls to stand up to the sort of negative shiite some others post here, QF would be a basket case.
 
You didn't include an onslaught of unwarranted criticism from disgruntled customers. That's ok then, my criticism must be warranted.
Another thing, I cannot agree with the claim that he has maintained a quality full service product. Service and quality have not been maintained - there is obvious cost cutting in a number of areas.

Of course there was criticism in some quarters when necessary change was brought about. But then again the ultimate test is in their passenger numbers and it is quite clear with their increased loads that any criticism was not matched by a rush departure of customers to other airlines. I think they have done a great job maintaining a quality level of customer service during such a period of rapid restructuring. While there are inevitable slip ups (that goes with any service industry) I do think some people will always have unrealistic expectations of Qantas - and unfortunately some of those expectations are no longer affordable for an airline having to compete in an industry where some very big players are still highly subsidised by their governments. It also appears that they have been able to address the lcc market effectively - certainly not an easy challenge.
 
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Obviously... But welcome to the real world. And as others have said look at airlines like BA, and the cuts that have been made there. Really highlights how good Qantas is, even with cost cutting.

I'm not the one who claimed anything was maintained. I sure as %^&$ don't need to be welcomed to the real world - since welcome to the real world was the point of disagreeing with the idealistic claim that service has been maintained. But thanks for your input.

I think Qantas (both through their staff and his leadership), have done an amazing job indeed. That an Australian airline can survive in the global market and still be a fantastic product is very, VERY hard work. Congratulations to them all :)

Which has nothing to do with my post. If you bother to read my post, I've made no judgement about the jobbie that Qantas have done. You should edit to delete the quote. But, of course, that wouldn't allow the strawman to be waved around.
 
Of course there was criticism in some quarters when necessary change was brought about. But then again the ultimate test is in their passenger numbers and it is quite clear with their increased loads that any criticism was not matched by a rush departure of customers to other airlines. I think they have done a great job maintaining a quality level of customer service during such a period of rapid restructuring. While there are inevitable slip ups (that goes with any service industry) I do think some people will always have unrealistic expectations of Qantas - and unfortunately some of those expectations are no longer affordable for an airline having to compete in an industry where some very big players are still highly subsidised by their governments. It also appears that they have been able to address the lcc market effectively - certainly not an easy challenge.

Again with this false claim that service has been maintained. It clearly has not been maintained. That is a fact - welcome to the real world. The fact that they haven't sunk to LCC level is not the same as maintenance of the previous level of service. Is this a hard concept to understand?

BTW loads have also been improved by reducing capacity. No I can't agree that passenger numbers is the ultimate test. If they maintained the capacity and increase passenger numbers - you might have a point.

The fact is that substantial changes have been made in capacity, growth and service standards. This result reflects those changes. But it is false to pretend things are the same as before the changes were made.
 
.....Which has nothing to do with my post. If you bother to read my post, I've made no judgement about the jobbie that Qantas have done. You should edit to delete the quote. But, of course, that wouldn't allow the strawman to be waved around.

medhead, you need to chill and understand "conversations' such as forum posts. I read your post. If you made no judgement then I don't understand your point or your post. What were you trying to convey? I believe that Qantas HAS maintained a quality product.

If you want everything that you do not agree with "edited" I think we would end up with a forum where only your posts remain :)
 
....The fact is that substantial changes have been made in capacity, growth and service standards. This result reflects those changes. .......

Exactly - AJ has managed to save a bleeding airline. It's success is admirable.
 
Again with this false claim that service has been maintained. It clearly has not been maintained. That is a fact - welcome to the real world. The fact that they haven't sunk to LCC level is not the same as maintenance of the previous level of service. Is this a hard concept to understand?

BTW loads have also been improved by reducing capacity. No I can't agree that passenger numbers is the ultimate test. If they maintained the capacity and increase passenger numbers - you might have a point.

The fact is that substantial changes have been made in capacity, growth and service standards. This result reflects those changes. But it is false to pretend things are the same as before the changes were made.

I travel regularly and have for many years. I do not believe that there has been any real reduction in service by Qantas during the restructure - and there have certainly been improvements in some area during this time - there maybe a reduction in some perks that people have previously taken for granted and confused with "service".
 
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