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Air Pacific has taken delivery of the Boeing 767-300ER it is leasing from US based lessor ILFC. The 249 seat 767-300ER (pictured here recently departing Sycney) replaces the carrier’s 767-200 it has had in service since 1990, and it will be used on services to Australia, Auckland, Los Angeles and Tokyo. (John Ruming)
Airline Affairs
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Record Qantas Profit
Qantas has posted a record operating profit of withdrawal of three major carriers on the trans Pacific routes over recent years, realised, though the full benefits may not be shown for another twelve to eighteen $301.8 million for 1993/94, in the crucial Qantas claims it is achieving “only marginal profitability”. James Strong said, lead up to the float mooted for around federal budget time in 1995, reports “this is still not an outstanding part of Julian Green. The $155.9 million profit after abnormal items, interest and tax is a major our operation.” the reporting period as a result of the turnaround from the previous year’s loss of $376.8 million, following the write off of the Australian Airlines purchase. Qantas Chairman Gary Pemberton, described the result as “pleasing and a significant milestone in the development of the airline’s financial performance.”
“The result is a compliment to the achievement of staff. The year has not been an easy one. Staff have had to contend with the challenges of the merger and strenuous competition in the market and increased capacity. Net interest expenses decreased $19.2m on the previous year reflecting a lessening of debt. The optimistic results have been largely attributed to strict controls on outgoings and increased aircraft utilisation, while the single largest contributing factor has been the strengthening of markets right across the airline’s network. After its comparatively Air Pacific has taken delivery of the Boeing 767-300ER it is leasing from US based the progressive introduction of new product, our November entry into Western Australia and continuing emphasis on cost reduction, the Board and management are able to approach the public share offering with confidence that the market position and financial performance of Qantas have been strengthened.”
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