Qantas Airways Limited
(ASX:QAN) has announced its group revenue has decreased 3 percent in the first quarter of the financial year 2017, compared to the prior corresponding period.
Group revenue for the three month period ending 30 September came in at $3.98 billion compared to revenue of $4.11 billion in Q1 of 2016.
Qantas has pointed to increased competition on international routes and a subdued domestic demand environment in the first two months of the year as contributing factors.
The business has indicated it is on track to deliver a first half underlying profit of between $800 million and $850 million.
The range which would represent the third-best first half result in the airline’s history.
Qantas Airways Limited reported a net profit of $1.03 billion at 30 June 2016.
