Qantas has posted a net profit of $111 million in the six months to December 31, up from $42 million in the year-ago period. Although this triples profits, the resultare still far below analyst expectations of $138 million. The airline’s underlying profit before tax, which excludes one-off financial items, rose 10% to $223 million. Qantas in November forecast an underlying profit before tax in the range of $180 million to $230 million. “The operating environment remains complex and volatile, but we are now beginning to realise the benefits of the tough decisions that we have made over the past 18
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