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Making hay
Qantas gets ratings lift after big first half profit
Ratings agency Moody’s has lifted its assessment of Qantas stock back to investment grade, after the airline group delivered a bumper first half profit.
On February 23, Qantas reported statutory net profit after tax for the six months to December 31 2015 of $688 million, more than three times the $203 million in the prior corresponding half, led by its cost-cutting transformation program, and an international division “going gangbusters” as the lower currency fuelled demand for travel into Australia and alliance partners funnelled passengers onto a domestic network that also posted strong profit growth.
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