Qantas set to open new Singapore Airport First Class lounge

Company News

by Rachael Jones

Qantas (ASX:QAN) has released results their first quarter of the 2019 financial year achieving record results.

Revenue is up 6.3 per cent to $4.41 billion compared to the prior corresponding period.

Structural changes to Qantas’ international network continued to support revenue growth, including the Perth-London route and renewed codeshare agreements.

They also announced today a multi-million dollar investment in the lounges at Singapore Airport.

The strong revenue performance also helped partially offset a rise in non-fuel costs, such as higher commissions paid to travel agents on the higher revenue and the impact of a weaker Australian dollar.

Total Group capacity was down by 0.3 per cent, with decreases in both the international and domestic market.

Shares in Qantas (ASX:QAN) closed 1.26 per cent higher to $5.62 yesterday
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.