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Non-stop Perth to London flights boost Qantas' profit to record

Non-stop Perth to London flights boost Qantas' profit to record

2018 08 26

2018 08 26

Qantas' profits soared to a record $1.6billion this year, with 27,000 of its employees pocketing a $2,500 bonus each.  

Bouyed by the success of its new non-stop Perth to London service, the Australian flag carrier's profits jumped 14 per cent compared to last financial year.

'It's fair to say customers have given their stamp of approval to several important changes to International,' a Qantas statement said. 'The new Perth-London route is the highest rating service on our network.' 

The airline has set aside $67million in bonuses to be shared among 27,000 non-executive staff. 

'Ultimately our success relies on the great service and dedication to safety from our people, which is supported by continuing to invest and innovate,' Qantas chief executive Alan Joyce said. 

'We're very pleased to reward our people with a bonus for this fantastic result. It brings the total amount set aside for non-executive employees to over $300 million over the past four years for their part in the Group's exceptional performance.' 

Mr Joyce said the company was 'delivering across the board', boosted by 'healthy demand across key sectors'.  

'Our investment in free Wi-Fi and cabin improvements are delivering a better experience for customers as well as higher earnings for Qantas and Jetstar,' he said. 

Mr Joyce said the record profit came despite higher oil prices - but fares could rise to recover the increased costs which are expected to continue.

We're facing another increase to our fuel bill for FY19 and we're confident that we will substantially recover this through a range of capacity, revenue and cost efficiency measures, in addition to our hedging program,' he said. 

The international division grew earnings by seven per cent, while domestic operations were up 25 per cent. 

Plans to launch ultra-long haul non-stop flights from Sydney to London and New York within the next four years are now another step closer to reality.      

'Work on Project Sunrise – which will unlock direct flights from the east coast of Australia to London and New York by 2022 – advanced to the request for proposal stage with Airbus and Boeing,' the airline said.    

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