Qantas switches to profit mode, losses halve

Qantas Airways has some good news for its customers. The airline, which had been running into losses in the past, has started posting profits. This is the result of the changes made to its international schedules. The carrier also believes its relationship with gulf-based airline Emirates too has a part to play in its success.

The airline has stopped operations to not-so-profitable international destinations. It has also taken to job cuts, reduced capital spending, and sold assets to pay off the debts. These measures have helped it decrease its debts a great deal. The carrier adapted these techniques to ensure that it stays alive and offers flights to customers worldwide.

Passengers booking airline tickets with Qantas will be happy to know that their favorite carrier reported profits. For the fiscal year ended June 30, 2013, the airline reported $171.5 million underlying profit before tax. Its statutory profit before tax stood at $15.1 million and statutory profit after tax was $5.3 million.

The airline recently announced that it was adding a new seasonal route between Perth and Auckland. It also plans to upgrade the Sydney-Hong Kong service to Airbus A380 aircraft. It is also set increase the frequency of flights between Brisbane and Los Angeles to daily.