Qantastic

22 Feb 2018 By Clara Ferreira Marques

The flag carrier has pulled away from regional rivals, with impressive cash generation and record pre-tax profit. Shares are up 70 percent from early 2017, and it is renewing its fleet. Still, higher oil prices and any extra domestic competition could yet mean turbulence.

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On Feb. 22, Qantas Airways reported a 15 percent year-on-year increase in underlying profit before tax to A$976 million ($761 million), for the six months to December. Net free cash flow was A$772 million, almost three times higher than a year earlier.

The Australian flag carrier paid a A$0.07-per-share dividend and said it would buy back up to A$378 million of stock. Since October 2015, the company has bought back about a quarter of its shares.

Qantas shares were up more than 8 percent in morning trade in Sydney, registering their biggest intraday gain since May 2015.

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