On Thursday, October 26, Qantas Group announced its preliminary data for the first quarter of financial year 2018. It shows increase in the total revenue compared to the first quarter of financial year 2017 as a result of the improved trading conditions in both the domestic and international markets.
The group revenue for the first quarter, ending 30 September 2017 was $4.19 billion, which marks a 5.1% increase versus the prior corresponding period. The unit revenue for Group Domestic (comprising Qantas Domestic and Jetstar Domestic) increased 8.0% compared to the first quarter of financial year 2017 and the unit revenue for Group International (comprising Qantas International, Jetstar International and Jetstar Asia in Singapore) increased by 0.2%.
Quantas Group also expects underlying profit before tax (PBT) to be between $900 million and $950 million for the first six months of the financial year. For comparison, PBT for the prior corresponding period was $852 million.
The forecast for the rest of the financial year are favorable despite the expectations of tougher trading conditions in 2018, such as fuel costs.
Alan Joyce, Qantas Group CEO, commented that,
“Overall, despite an uptick in fuel costs and the challenges from competitor capacity growth on the international side, the Group remains on track for another strong underlying first half and a successful full year.”