Scale of Qantas turnaround catches Joyce by surprise

Original article by Steve Creedy
The Australian – Page: 20 : 10-Dec-14

Alan Joyce, CEO of Qantas Airways, admits that he and his management team had not expected their cost-cutting strategy to bear fruit so rapidly. He has been able to forecast a 2014-15 interim underlying profit pre-tax of up to $A350m, after the previous loss. The carrier’s stock on 9 December closed $A0.01 lower at $A2.38, but had gained nearly 14% the day before when the news was released. Meanwhile independent senator Nick Xenophon wants the Australian Competition & Consumer Commission to look into whether Qantas’s refusal to lower its fuel surcharge despite a falling crude oil price constitutes misleading and deceptive conduct

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BOEING COMPANY, CITIGROUP PTY LTD, AIRBUS SAS, NICK XENOPHON GROUP

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