Qantas reports 25 per cent drop in half year profit
Updated
Australian airline Qantas has announced a 25 per cent fall in half year profit to $515 million. The company is back in the black just a few years after posting a record loss of almost $3 billion, but senior business correspondent Peter Ryan said Qantas is dealing with a number of one of costs, including selling terminal spaces, and redundancy pay offs.
Source: The World Today | Duration: 7min
Topics: air-transport, business-economics-and-finance, industry, australia
Just a few years ago, the Australian airline Qantas was facing major turbulence when it posted a record loss of almost $3 billion.
Qantas is now back in the black but today the airline signalled challenging times with a 25 per cent fall in half year profit because of greater competition and the winding down of Australia's mining boom.
The ABC's senior business correspondent Peter Ryan was at this morning's results briefing at Mascot and he joins me now.
