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Qantas Freight pretax profit off 29pc to US$27 million, sales slip 4.5pc
QANTAS Freight posted a 29 per cent year-on-year decline in pretax profit to A$38 million (US$27 million) for the six months ending December 31, drawn on revenues of A$525 million, down 4.5 per cent.
Qantas Group cost-cutting, lower fuel costs and the Australian dollar boost first half profits 234 per A$688 million, reported Brisbane's Air Transport News.
"As forecast in the group's financial year 2015 results announcement, the global cargo market remains challenging, with lower demand domestically and in key international markets contributing to a five per cent fall in revenue in the half," the company said.
Also weighing on the freight arm was the conclusion of favourable Australian air Express legacy agreements and fuel price reductions offsetting reduced fuel costs.
As with the rest of the group, freight operations are subject to the Qantas Transformation strategy.
"Transformation benefits and lower fuel prices were offset by fuel surcharge reductions and a decline in air freight demand in international markets," said Qantas.
"Qantas Freight continued to focus on customer enhancements in the period, including the pilot of a customer advocacy programme and selling to new markets Haneda (Tokyo), San Francisco and Vancouver.
"Qantas Freight's focus is on increasing efficiency through transformation, investing in customer service, and maximising the new markets opened up by Qantas International's expansion," the company said.
Qantas Group cost-cutting, lower fuel costs and the Australian dollar boost first half profits 234 per A$688 million, reported Brisbane's Air Transport News.
"As forecast in the group's financial year 2015 results announcement, the global cargo market remains challenging, with lower demand domestically and in key international markets contributing to a five per cent fall in revenue in the half," the company said.
Also weighing on the freight arm was the conclusion of favourable Australian air Express legacy agreements and fuel price reductions offsetting reduced fuel costs.
As with the rest of the group, freight operations are subject to the Qantas Transformation strategy.
"Transformation benefits and lower fuel prices were offset by fuel surcharge reductions and a decline in air freight demand in international markets," said Qantas.
"Qantas Freight continued to focus on customer enhancements in the period, including the pilot of a customer advocacy programme and selling to new markets Haneda (Tokyo), San Francisco and Vancouver.
"Qantas Freight's focus is on increasing efficiency through transformation, investing in customer service, and maximising the new markets opened up by Qantas International's expansion," the company said.
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