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Qantas expects profit of up to $350 million

Staff writer |
The Qantas Group expects to report an underlying profit before tax in the range of $300 million to $350 million for the first six months of financial year 2015.

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All operating segments of the Qantas Group are expected to be profitable in the first half, at an Underlying Earnings Before Interest and Tax level.

The strong turnaround in the Group’s financial performance is being driven by rapid progress with the $2 billion accelerated Qantas Transformation program announced 12 months ago. To date, all targets under the program have been either met or exceeded

After realising $204 million in Qantas Transformation benefits in the second half of financial year 2014, the Group is on track to realise at least $350 million in further benefits in the first half of financial year 2015

The Group expects to receive a $30 million benefit in the first half from lower Australian dollar fuel prices.

Qantas CEO Alan Joyce said the Qantas Transformation program was gathering pace and, with a more stable operating environment, benefits were flowing directly to the Group’s financial results.

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