The Qantas Group (AXS:QAN) report that Hong Kong protests will impact 1H profit performance

Company News

by Rachael Jones

The Qantas Group (AXS:QAN) report a fall of 0.9 per cent in domestic revenue through the September quarter due to mixed market conditions.

Revenue growth in the first quarter of FY20, is up 1.8 per cent to a record $4.56 billion compared with $4.49 billion in the prior corresponding period.

Corporate travel demand was flat and small business travel demand growth slowed – but Qantas’ market share in both these segments continued to increase. Premium leisure demand remained steady.

Jetstar International revenue also grew in the quarter, led by strong demand on leisure routes to Asia that offset weakness in markets impacted by the strength of the US Dollar.

Protests in Hong Kong will negatively impact the Group’s first half profit performance by $25 million.

Shares in The Qantas Group (AXS:QAN) trading 3.9 per cent lower $6.27.
 

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.