Qantas predicts bumper $350 million profit

Qantas will return to profit for the 2014/15 financial year, predicting a profit of $350 million for the first six months of next year.

The profit comes after the airline posted a loss of $252 million for the 2013/14 financial year.

Qantas CEO Alan Joyce announced the result in a statement today, saying $204 million of the expected profit could be attributed to the company’s new strategic plan, implemented 12 months ago.

“The strategy we have outlined to transform our business is working,” he said.

“Thanks to the hard work of our people, we are delivering the cost and revenue-focused initiatives needed to strengthen our business, without compromising the premium service that matters to our customers. As our recent announcements show, from new lounges to new routes and the upgrade of our A330 fleet, customers remain at the heart of our strategy.”

The airline was also assisted by the lower Australian dollar, with $30 million of the expected profit comes from decreased fuel prices.

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