Bangkok--19 Feb--Aziam Burson-Marsteller
Profit surge supported by strong capacity and passenger growth including 217 percent increase in international passengers
The Qantas Group has today released details of low fares leader Jetstar’s record result for the half-year ended December 2009 including EBIT (Earnings Before Interest and Tax) of AUD121 million, an increase of 181 percent on the comparative half year.
Total revenues increased over the period by 18.1 per cent to AUD1,131 million.
Jetstar’s record result was supported by a 33 percent increase in capacity and a 217 percent increase in international passengers as measured by Available Seat Kilometres (ASK).
Jetstar is the fastest growing international airline to and from Australia and the largest low cost carrier in Asia as measured by revenue.
Total passenger volumes increased by 42 percent to 7.3 million for the half year.
The results reflect a continued focus on strong cost management. Jetstar’s overall Gross Cost per Available Seat Kilometre (ASK) was reduced by 16.5 per cent during the period, whilst its Controllable Unit cost per ASK (excluding fuel and foreign exchange) reduced by 6.1 per cent.
The Jetstar fleet grew by three aircraft, to 59 aircraft in the six months to 31 December 2009 with an additional 10 aircraft scheduled for delivery in FY2010.
Mr Bruce Buchanan Chief Executive Officer of Jetstar said: “We are delighted to announce another record result for Jetstar, Australia’s fastest growing international carrier.
“We are also proud to maintain our position of being the only value-based model established by a full service airline to have reported profits for every year since start-up
“Jetstar is very firmly positioned as Australia’s leading low fares airline and continues to grow. During the period, we started two new domestic routes Sydney-Perth and Melbourne-Sydney and commercially launched future Melbourne-Brisbane services.
“Jetstar also successfully took over the Qantas Group’s New Zealand domestic routes delivering improved economic returns for the Group’s operations in that market,” he said.
Mr Buchanan said that the results were especially encouraging given the many significant challenges in the overall industry including the global economic downturn, the cyclical nature of the international business, the impact of H1N1 and increased competition.
According to IATA the world’s airlines will record net losses of US$ 5.6 billion in 2010.
Media Enquiries:
Simon Westaway Jetstar Head of Corporate Relations M: + 61 401 994 627
James Best Aziam Burson-Marsteller M: +66 8319 84722
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Barakorn Petchnoi
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Aziam Burson-Marsteller (ABM)
Bangkok, Thailand
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