Qantas Group delivered another strong result in the first half of financial year twenty.FY20.
Qantas reported underlying Profit of $771 million – down $4 million on last year.
A $68 million impact from unrest in Hong Kong and trade wars hitting international freight; and a $55 million increase in domestic airport overheads due to terminal sales.
So, despite more than $170 million in headwinds and cost-ups, the result was almost flat on the prior year and our earnings per share increased.
Qantas subsidy, Jetstar faced the added challenge of industrial action at one of its busiest times of year.
In the first half airline returned nearly $650 million through dividends and a significant buy-back.
Today, Qantas board announced a further return of up to $351 million – made up of an increased dividend and another off-market share buy-back that is expected to use all available franking credits.
Qantas suspending Sydney-Shanghai service until the end of May – possibly longer due to Coronavirus outbreak.