Airline Affairs

Qantas Logs Record Profit:

Qantas have announced the highest profit in the Company’s 68 year history. For the 12 months ended 31 March 1988, the unaudited group profit from operations was $153. 3m. This was a 47% increase over the $104. 3m result of the previous year.

The profit after tax and abnormal items was $131. 1m compared with $63. 8m in 1986/87. Abnormal items, principally a surplus on the sale of aircraft, totalled $65. 5m and $87. 5m was provided for tax. Qantas has earned $484. 1m in total profits since the Commonwealth acquired all of the shares in 1947. Of this profit, 84% has been earned in the fast five years.

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