Qantas Freight has reported underlying EBIT of A$22 million, down from $38 million in the last six months of last year.
“International freight earnings held up well despite a soft global cargo market,” said Alan Joyce, chief executive of the Qantas Group.
“Domestic performance was weaker, and the time was right for the Group to sell its stake in StarTrack and integrate Australian air Express with Qantas Freight – creating operational and commercial efficiencies.”
Qantas Freight increased revenue despite a weak domestic environment, with total revenue and other income A$531million compared to A$526 million for the same period in 2011.
The average load factor was 47 per cent.
Qantas Freight’s underlying EBIT was A$22 million, down A$16 million on the prior corresponding period. This was driven by weakness in the domestic market and strong competition. Despite continued soft international freight markets, earnings from international freight were in line with the prior corresponding period.
In November 2012, Qantas Freight sold its share in StarTrack and bought out the remaining share of Australian air Express. The integration of Australian air Express - now under way - is expected to deliver significant synergies and create Australia’s leading independent air freight provider.
The consolidation of Australian air Express drove the increase in revenue for the half-year ended 31 December 2012.
Freight’s co-operation with Emirates will support the changes to the international network from 31 March 2013.
Qantas Freight ‘held up well’
AC 221 archive stories
Thursday, 07 March 2013
Qantas Freight has reported underlying EBIT of A$22 million, down from $38 million in the last six months of last year.
“International freight earnings held up well despite a soft global cargo market,” said Alan Joyce, chief executive of the Qantas Group.
“Domestic performance was weaker, and the time was right for the Group to sell its stake in StarTrack and integrate Australian air Express with Qantas Freight – creating operational and commercial efficiencies.”
Qantas Freight increased revenue despite a weak domestic environment, with total revenue and other income A$531million compared to A$526 million for the same period in 2011.
The average load factor was 47 per cent.
Qantas Freight’s underlying EBIT was A$22 million, down A$16 million on the prior corresponding period. This was driven by weakness in the domestic market and strong competition. Despite continued soft international freight markets, earnings from international freight were in line with the prior corresponding period.
In November 2012, Qantas Freight sold its share in StarTrack and bought out the remaining share of Australian air Express. The integration of Australian air Express - now under way - is expected to deliver significant synergies and create Australia’s leading independent air freight provider.
The consolidation of Australian air Express drove the increase in revenue for the half-year ended 31 December 2012.
Freight’s co-operation with Emirates will support the changes to the international network from 31 March 2013.
