qantas airways ltd (QUBSF) Key Developments
Qantas Group Announces Operating Results for the Month and Year to Date Ended March 2015
Apr 29 15
Qantas Group announced operating results for the month and year to date ended March 2015. For the month, the company reported passengers Carried was 4,119,000 against 4,059,000 a year ago. Revenue passenger kilometers was 9,329 million against 8,785 million a year ago, resulting in a revenue seat factor of 79.1% which was 4.7% higher than the previous March. Available seat kilometers was 11,788 million against 11,807 million a year ago. Revenue seat factor was 79.1% against 74.4% a year ago.
For the year to date period, the company reported passengers Carried was 37,378,000 against 37,079,000 a year ago. Revenue passenger kilometers was 85,323 million against 83,258 million a year ago. Available seat kilometers was 106,937 million against 106,736 million a year ago. Revenue seat factor was 79.8% against 78% a year ago.
Qantas Resumes Perth to Singapore Flights
Apr 17 15
Qantas will resume services between Singapore and Perth after scrapping the route 2014. The loss of the route in May was part of the fallout from a $235 million half-year loss posted last year, which also saw the airline move to slash 5,000 jobs. The company has announced it will operate five return Boeing 737 services a week between Western Australia's capital and the Asian city state.
Qantas Airways Limited Reports Traffic Results for the Month and Year to Date Ended February 2015
Mar 30 15
Qantas Airways Limited reported traffic results for the month and year to date ended February 2015. For the month, the company reported passengers carried of 3,653,000 against 3,655,000 a year ago. Revenue passenger kilometers was 8,367 m against 8,085 m a year ago. Available seat kilometers was 10,711 m against 10,611 m a year ago. Revenue seat factor was 78.1% against 76.2% a year ago.
For the year to date, the company reported passengers carried of 33,259,000 against 33,020,000 a year ago. Revenue passenger kilometres was 75,994 m against 74,473 m a year ago. Available seat kilometres was 95,150 m against 94,929 m a year ago. Revenue seat factor was 79.9% against 78.5% a year ago.
The Australian Competition and Consumer Commission Plans to Reject Proposed Coordination Agreement Between Qantas and China Eastern on Flights to China
Mar 23 15
The Australian Competition and Consumer Commission plans to reject a proposed coordination agreement between Qantas and China Eastern on flights to China. Under the plan, Qantas and China Eastern would coordinate their operations to Shanghai, which the airlines argue would improve connectivity and convenience for customers transferring to China Eastern domestic flights. Part of the benefit would be through Qantas co-locating at China Eastern's terminal in Shanghai. It is concerned that Qantas and China Eastern control 80% of the Sydney-Shanghai route, and the proposed agreement would allow them to limit capacity and potentially lift prices on that route. They are the two major airlines on the route and the only airlines offering daily flights, and so the major competitive constraint on each other.
Cotchett, Pitre & McCarthy LLP and Hausfeld, LLP Provides Update of Settlement of Class Action Lawsuit Involving Price of Airline Tickets
Mar 9 15
Settlements have been reached with eight airlines in a class action lawsuit involving the price of airline tickets. The Settling Defendants are: Air France; Cathay Pacific; Japan Airlines; Malaysian Airlines; Qantas; Singapore Airlines; Thai Airways; and Vietnam Airlines. The lawsuit continues against five Non-Settling Defendant airlines: Air New Zealand; All Nippon Airways (ANA); China Airlines (Taiwan); EVA Airways; and Philippines Airlines. The lawsuit claims that the Defendants agreed to fix prices on tickets for transpacific air travel. As a result, ticket purchasers may have paid more than was necessary. The Settling Defendants deny the allegations, and deny that they have any liability. The Defendant airlines also deny liability, although ANA has pled guilty to fixing the prices of certain discounted tickets. Purchasers are included if: they bought a ticket for air travel from one of 26 airlines; the ticket included at least one flight segment between the U.S. and Asia or Oceania; and the purchase was made between January 1, 2000 and the present. The Settling Defendants have agreed to pay $39,502,000. Money will not be distributed yet, and will be distributed pursuant to a Plan of Allocation approved by the Court. Class Counsel will pursue the lawsuit against the Non-Settling Defendants.