Qantas Airways Limited (ASX:QAN) has missed expectations and grown losses to $2.8 billion in the 2014 financial year.
The airline has blamed restructuring charges and major write downs on its international fleet as driving the net loss figure.
Revenue for the airline is down 3 per cent as capacity growth has exceeded demand.
The company has made it clear it will not be selling its frequent flyer program as was speculated.
CEO Alan Joyce concedes the result is confronting but stresses they’ve come through the worst and the focus is now on growth for the future.
No dividend was declared.
