Qantas Airways Provides Trading Update Q1 2018

The Qantas Group today announced preliminary trading data for the first quarter of financial year 2018, with an increase in total revenue as trading conditions in both the domestic and international markets improved compared to the first quarter of financial year 2017.

Group revenue for the three month period ending 30 September 2017 increased 5.1 per cent to $4.19 billion compared to revenue of $3.98 billion in the first quarter of financial year 2017. Consistent with guidance provided at the Group’s 2017 full-year results, Unit Revenue (RASK)2 in the quarter increased by 3.1 per cent compared to the prior corresponding period.

As expected, Unit Revenue for Group Domestic (comprising Qantas Domestic and Jetstar Domestic) increased 8.0 per cent compared to the prior corresponding period. The domestic demand environment improved due to stabilisation of conditions in the resources market and the impact in the prior year of the subdued demand overhang from the 2016 Federal Election. Proactive capacity management continued, with Group Domestic capacity down 2.7 per cent including continued right-sizing in the resources market.

Conditions in the international market eased slightly with the Unit Revenue for Group International (comprising Qantas International, Jetstar International and Jetstar Asia in Singapore) increasing by 0.2 per cent in the face of a 3 per cent increase in competitor capacity.

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