Qantas Airways Ltd forecast it will report a first-half profit that tops market estimates for the full year as demand rebounds, even as it spends money to improve operational reliability and sweeten wages.
Qantas aircraft are seen on the tarmac at Melbourne International Airport in Melbourne, Australia, November 6, 2018. REUTERS/Phil Noble/File PhotoHalf-year estimate is higher than analyst full-year estimatesWill invest in operational reliability, wage increasesforecast it will report a first-half profit that tops market estimates for the full year as demand rebounds, even as it spends money to improve operational reliability and sweeten wages.
UBS analysts said in a note that the first-half guidance was more than double its earlier estimate of A$463 million, driven in part by further capacity cuts that would keep fares high. Qantas has traditionally reported stronger profits in the first half than the second half because of seasonal effects and it also faces rising economic headwinds and a higher fuel price.
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