|
More
Latest Travel News
Secure HOTEL RESERVATIONS
FULL
LIST. THAILAND
Asia
Hotel Bangkok, Chateau
de Bangkok Serviced Appartments, Holiday
Inn Crowne Plaza Bangkok, Hotel
Plaza Athenee Bangkok, Imperial
Impala Hotel Bangkok, Imperial
Queens Park Hotel, Imperial
Tara Hotel Bangkok, JW
Marriott Hotel Bangkok, Merchant
Court Hotel Bangkok, Novotel
Bangkok on Siam Square, Novotel
Bangna Bangkok, Novotel
Lotus Bangkok, Peninsula
Hotel Bangkok, Riverfront
Residence Appartments Bangkok, Royal
Orchid Sheraton Hotel & Towers, Sheraton
Grande Sukhumvit, Sofitel
Central Plaza Bangkok, Sofitel
Silom Bangkok, The
Landmark Hotel Bangkok, Zenith
Hotel Bangkok, Asia
Pattaya Beach Resort, Novotel
Coralia Rim Pae Resort Rayong, Kamala
Bay Terrace Resort Phuket, Novotel
Coralia Phuket, Phuket
Island Resort, Ban
Kaew Villa Samui, Chaweng
Regent Beach Resort Samui, Mercure
Resort Koh Samui, Peace
Bungalows (Bophut) Koh Samui, Poppies
Hotel Samui, The
Imperial Boat House Hotel Samui, The
Imperial Samui Hotel, The
Princess Village, The
Whitehouse Hotel Samui, Rayavadee
Premier Resort Krabi, Imperial
Golden Triangle Resort Chiang Rai, Imperial
Lake View Hotel & Golf Club Cha-Am, Sofitel
Central Hua Hin Resort, Imperial
Mae Ping Chiang Mai, Novotel
Chiang Mai Hotel, Imperial
Phukaew Hill Resort Petchaboon, Imperial
Tara Mae Hong Son, Hotel
Sofitel Raja Orchid Khon Kaen. PHILIPPINES
Atrium
Suites Manila, Bayview
Park Hotel Manila, Citadel
Inn Makati, Holiday
Inn Manila, Hotel
Inter-Continental Manila, New
World Renaissance Makati Manila, Pan
Pacific Manila Hotel, Peninsula
Manila Hotel, Primetown
Tower Makati, Imperial
Palace Suites Quezon City, Badian
Island Resort & Spa Cebu, Maribago
Bluewater Beach Resort Cebu, Golden
Peak Hotel Cebu, Pearl
Farm Beach Resort Davao. VIETNAM
Caravelle
Hotel Saigon, Hotel
Sofitel Plaza Saigon, Novotel
Garden Plaza Saigon Hotel, Omni
Saigon Hotel, Renaissance
Riverside Saigon Hotel, De
Syloia Hotel Hanoi, Hotel
Nikko Hanoi, Melia
Hanoi Hotel, Sofitel
Metropole Hanoi, Sofitel
Plaza Hanoi, Sunway
Hotel Hanoi, Century
Riverside Hotel Hue, Novotel
Dalat, Sofitel
Dalat Palace, Novotel
Coralia Ocean Dunes Phan Thiet, Anoasis
Beach Resort Long Hai, Furama
Resort Danang. CAMBODIA
Sunway
Hotel Phnom Penh, Sofitel
Royal Angkor HONG
KONG Century
Hotel Hong Kong, Century
Harbour Hotel Hong Kong, Century
Inn North Point, Eaton
Hotel Hong Kong, Grand
Plaza Hotel Hong Kong, Grand
Tower Hotel Hong Kong, Great
Eagle Hotel Hong Kong, Harbour
Plaza North Point, The
HongKong Hotel, The
Marco Polo Hong Kong, The
Prince Hong Kong, The
Salisbury YMCA of Hong Kong, The
Wesley. SINGAPORE
Century
Roxy Park Hotel Singapore, Hotel
Rendezvous Singapore, Novotel
Apollo Singapore, Raffles
Hotel Singapore, Royal
Plaza on Scotts, The
G@llery Evason, The
New Otani Singapore, The
Royal Wing. INDONESIA
Hotel
Atlet Century Park Jakarta, Hotel
Ibis Mangga Dua Jakarta, Hotel
Ibis Tamarin Jakarta, Mercure
Residence Puri Imperium Jakarta, Imperial
Century Hotel & Country Club, Century
Saphir Yogyakarta, Hotel
Ibis Malioboro Yogyakarta, Novotel
Hotel Yogyakarta, Melia
Purosani Yogyakarta, Bali
Melita Villa, Melia
Bali Hotel, Novotel
Benoa Bali, Pansea
Hotel Bali, Century
Mabisa Inn Bali, Century
Saphir Bali, Novotel
Coralia Lombok, Novotel
Hotel Batam, Novotel
Coralia Toraja (Sulawesi), Novotel
Coralia Bukittinggi (Sumatra). MALAYSIA
Century
Kuala Lumpur Hotel, Melia
Kuala Lumpur Hotel, Park
Plaza International Kuala Lumpur, Hotel
Century Manado, Century
Mahkota Hotel Melaka, Promenade
Hotel Kota Kinabalu, Mercure
Ace Johor Bahru, Sofitel
Palm Resort Johor Bahru, Avillion
Village Resort Port Dickson. CHINA
Century
Run Hua Hotel Jinan, Sofitel
Silver Plaza Jinan, Novotel
Peace Beijing Hotel, Hotel
Sofitel Zhengzhou, Novotel
Hia Hua Hangzhou, Novotel
Atlantis Shanghai, Sofitel
Hyland Shanghai. KOREA
Novotel
Ambassador Kangnam Seoul, Novotel
Amabassador Toksan, DUBAI
Admiral
Plaza Hotel Dubai, Al
Maha Desert Resort, Dubai
Marine Hotel, Dubai
Marine Beach Resort, Emirates
Towers Hotel Dubai, Four
Points Sheraton Bur Dubai, Le
Meridien Mina Seyahi, Le
Royal Meridien Beach Resort & Spa, Metropolitan
Hotel Dubai, Rydges
Plaza Hotel Dubai, Sheraton
Dubai Hotel & Towers, The
Ritz-Carlton Dubai. LONDON
Chelsea
Green Hotel. (we are working very hard on this section, adding
hotels all the time so do keep checking back).
Hotel Reviews Hotels
in Bangkok, Hotels
in Phuket, Hotels
in Koh Samui, Hotels
in Manila, Hotels
in Cebu, Hotels
in Jakarta, Hotels
in Bali, Hotels
in Hong Kong (Island), Hotels
in Hong Kong (Mainland), Hotels
in Hanoi, Hotels
in Saigon (Ho Chi Minh), Hotels
in Singapore, Hotels
in Dubai, Hotels
in other countries.
THAILAND - General
Bangkok - Hotels
in Bangkok, Bangkok
International Airport, Bars
in Bangkok, Calypso
Cabaret Bangkok, Restaurants
in Bangkok, Transport
in Bangkok, Shopping
in Bangkok, Chatuchak
Market, VAT
refunds for purchases in Thailand, Things
to do in Bangkok, Internet
Cafes in Bangkok, Pictures
of Thailand.
Koh Samui
- Hotels in Koh Samui, Bars
in Koh Samui, Restaurants in
Koh Samui, General
Information on Koh Samui, Map
of Koh Samui, Diving in Koh Samui,
Pictures
of Thailand.
Phuket - Hotels
in Phuket, Restaurants
in Phuket, Special
Offers, Pictures
of Thailand.
Vietnam - Hotels
in Hanoi, Hotels
in Ho Chi Minh, Beach
Resorts and Inland Resorts in Vietnam, Transport
in Vietnam, Bars
in Vietnam, Restaurants
in Vietnam, Special
Offers, Pictures
of Vietnam.
Hong Kong Hotels
on Hong Kong Island, Hotels
on Hong Kong Mainland, Hidden
Hotel Costs in Hong Kong, Bars
in Hong Kong, Using
a Mobile Telephone in Hong Kong, General
Travel Information on Hong Kong, Ocean
Park Hong Kong, Transport
in Hong Kong, Special
Offers, Pictures
of Hong Kong.
Indonesia Hotels
in Jakarta, Hotels in
Bali, Bars in Jakarta,
Melia Purosani
Hotel Jogyakarta, Special Offers.
Philippines Hotels
in Manila, Hidden
Hotel Costs in manila Hotels, Restaurants
in Manila, Bars
in Manila, Pictures
of Manila, Money
and Exchange Warning in the Philippines, General
Information on Manila, Hotels
in Cebu, Restaurants
in Cebu, Pictures
of Cebu, General
Information on Cebu, General
Information on Palawan, General
Information on Boracay, Transport
in the Philippines, Special
Offers.
Singapore Singapore
Hotels Reservations, Singapore
Hotels Reviewed, Changi
Airport review, Hidden
Hotel Costs in Singapore Hotels.
Dubai - Shopping
Festival 2000, Hotels
in Dubai, Bars in Dubai, Restaurants in Dubai,
Golf in Dubai, Pictures
of Dubai, Pictures of Dubai
May 2000, Special
Offers, Visa
Requirements.
Other Country Tips - Paris,
Singapore, Japan, Korea
Many hotels and tips not covered above.
General Travel Tips - Planning
you trip, Arriving at
the destination, At the
hotel, During your
stay, Using e-mail on the road,
Cutting the stress of
travel, How to avoid Culture
Shock, Beat Jet Lag, Internet
Security.
Travel AWARDS - 1999 Premier Travel Awards,
2000 Premier Travel Awards,
2001 Premier Travel Awards,
Vote now
in the 2002 Premier Travel Awards.
Picture Gallery Phuket,
Koh
Samui, Chaweng
Cove (Samui), Bangkok,
Koh
Samui (Jan2000), Bangkok
(Jan 2000), Bangkok
(May 2000), Pictures
of Chatuchak Market, Pictures
of Temples in Thailand, Pictures
of Bangkok International Airport, Pictures
of Changi Singapore Airport, Hong
Kong Night Life, Hong
Kong Government House, Hong
Kong, Hong
Kong Harbour, Hong
Kong (Jan 2000), Ocean
Park Hong Kong, Pictures
of Manila, Pictures
of Cebu, Dubai,
Dubai
(DFS), Pictures
of the ATM 2000 in Dubai, Dubai
(May 2000), Paris
France, Paris,
France (March 2000), Pictures
of the Press, Hanoi
Vietnam, Pictures
of the Euro Coins and Notes.
Airlines - Tips
on getting upgraded, Flying without
the frills, Tips on using Airport
Lounges.
Travel Trade Shows ATF,
ITB, ATM,
Pictures of the
ATM 2000, WTM,
Calendar of Shows.
Latest Travel News - ASIA
travel news, reports and articles. Add
Latest Travel News to your site.
|
|
QANTAS REPORTS HALF-YEAR
PROFIT OF $153.5 MILLION
Qantas has announced a
profit after tax of $153.5 million for the half-year ended 31 December
2001, a result that is 41.6 per cent lower than the previous
corresponding period.
The profit before tax was $231.3 million, down 44.5 per cent.
Qantas Chairman Margaret Jackson said the six months to 31 December
2001 had been the most tumultuous in the history of aviation, with the
terrorist attacks on 11 September and the collapse of Ansett, and in
this difficult period Qantas' financial performance had been
outstanding.
"It is impossible to directly compare the performance of this six
months to the prior period because of the external factors such as
9/11, Ansett and the Olympics.
"However, thanks to the hard work and dedication of our people we
have performed better than just about any airline in the world,"
she said
The Directors declared a fully franked interim dividend of 8 cents per
share, and advised that the Dividend Reinvestment Plan will continue
to operate for this dividend. It is the Board's current intention that
the annual dividend payout ratio will be about 60 per cent.
Qantas Chief Executive Officer Geoff Dixon said conditions in the
aviation industry had been difficult before 11 September 2001.
"At the beginning of the period, the Australian and international
economies were slowing, the Australian dollar was weak and jet fuel
prices were high. Added to this was the heavy discounting in the
domestic market which saw two of the four domestic airlines
collapse," he said.
Mr Dixon said that after 11 September the demand for international
travel fell dramatically, up to 30 per cent on some key routes.
"This was the prime reason for our international operations,
which represent 75 per cent of Qantas' business, recording an EBIT
loss of $15.5 million compared to an EBIT contribution of $285.9
million in the previous corresponding period.
"The sharp decline in the profitability of our international
operations far outweighed the increased profitability of our domestic
operations after the collapse of Ansett. Domestic operations
contributed $180.1 million in EBIT, an increase of $62.0
million."
Mr Dixon said Qantas had moved quickly, but at significant cost, to
provide air travel for Australians following the collapse of the
Ansett Group.
"We carried 50,000 stranded Ansett passengers for free and
another 65,000 at greatly reduced fares. The cost of carrying these
passengers and the cost of wet leasing aircraft to cater for the
shortfall in domestic capacity was over $60 million."
Mr Dixon said while Qantas was one of the world's best performing
airlines, the industry both in Australia and internationally was under
significant pressure.
"There are signs of increased demand for international travel in
some markets. However, this is predominantly in the leisure sector and
this is impacting yields.
"Growth in the domestic market is depressed. The capacity planned
for the market over the next 12 months by Qantas, Virgin Blue and a
remodelled Ansett will result in an extremely competitive and
aggressive environment."
Mr Dixon said trading in the first six weeks of 2002 indicated Qantas
was still on track to deliver a full year profit before tax in line
with last year's result of $550 million.
"However, this could prove difficult if there is further
volatility in the market," he said.
Mr Dixon said it was imperative that Qantas worked closely with its
people and with Unions to ensure that its productivity as it went
forward better matched both its domestic and international
competitors.
"We cannot have a cost base out of line with our domestic and
international competitors. We face a period where many of our
competitors are achieving substantial cuts to their cost base because
of the aftermath of 11 September or by going into bankruptcy or
administration. Others are being restructured by going back into
Government ownership."
Mr Dixon said Qantas had taken some major steps in the past six months
to provide a platform for a profitable future when stability was
restored to the industry. These steps included:
* the withdrawal from poorly performing international routes and
reduced flying to other destinations;
* a ramp up in capacity in the domestic and regional markets to
establish a strong presence throughout Australia;
* the seeking of a wage pause from its employees and greater
productivity in future negotiations;
* the purchase and phased introduction from this month of 15 New
Generation single-class Boeing 737-800 aircraft for domestic routes
(options have been taken on another 60 aircraft);
* the deferral of the purchase of three A330 aircraft and the
redeployment of some international aircraft to permanent domestic
flying;
* the launch in September of Australian Airlines on Asian routes where
Qantas cannot be competitive;
* significant product improvements, including a $50 million upgrade of
Qantas Club lounges as well as new interiors (including in-seat videos
in all classes) in the 747-400 fleet;
* the raising of $663 million in equity to provide stability to the
balance sheet and ensure that gearing levels remain one of the lowest
in the industry.
Business Operations
International operations recorded an EBIT loss of $15.5 million
compared with an EBIT contribution of $285.9 million in the previous
corresponding period.
International traffic, measured in RPKs, fell by 1.4 per cent, while
capacity fell by 1.1 per cent, resulting in a marginal decline in seat
factor of 0.2 percentage points to 76.0 per cent. Yield (excluding the
impact of favourable movements in foreign exchange) fell by 2.1 per
cent.
Domestic operations contributed $180.1 million in EBIT, an increase of
52.5 per cent or $62.0 million over the prior year. RPKs increased by
27.4 per cent while capacity grew by 28.6 per cent, leading to a
decline in load factor of 0.8 percentage points to 80.1 per cent.
Yield (after excluding the favourable impact of movements in foreign
exchange) increased by 5.7 per cent.
Subsidiary operations contributed $105.9 million to the Group's EBIT,
an increase of 59.2 per cent from the contribution for the
corresponding prior period.
* the QantasLink performance improved due to higher loads and yields;
* Qantas Holidays' result improved due to strong domestic performance
and improved results in Japan, UK and Fiji which offset the softening
in outbound traffic as a result of 11 September;
* Qantas Flight Catering showed improved performance, mainly due to
the integration of Caterair into the operations for the full six
months.
Revenue
Total revenue for the half year was $5.7 billion reflecting growth of
approximately $566 million or 11.1 per cent on the corresponding
period last year.
Passenger revenue increased by 11.7 per cent and was due to growth in
Revenue Passenger Kilometres (RPKs) of 5.1 per cent and yield
improvements of 6.2 per cent.
Overall capacity grew by 5.3 per cent compared with the prior
half-year. However, after the events of 11 September 2001 and the
collapse of Ansett on 14 September 2001, Qantas moved capacity from
the international network to the domestic network.
International capacity reduced by 1.1 per cent across the period, 3.7
per cent higher in the first quarter but 5.8 per cent down in the
second quarter. For the month of December international capacity was
10.3 per cent lower than the prior year.
Domestic capacity increased by 28.6 per cent for the half-year as a
whole, up 16.5 per cent in the first quarter and up 40.1 per cent in
the second quarter as long-haul aircraft from international operations
were redeployed on domestic sectors and short-term wet-leased capacity
was brought in to cope with increased demand in the domestic market.
In the month of December, domestic capacity was 44.7 per cent higher
versus the prior year.
Across the full half-year period passenger volumes were down 1.4 per
cent in the international market and up 27.4 per cent in the domestic
market versus the prior year, resulting in a decrease in the overall
passenger seat factor of 0.1 percentage points. International volumes
were up 8.5 per cent in quarter one but down 10.7 per cent quarter
two. Domestic passenger volumes were up 12.4 per cent in quarter one
and 41.9 per cent in quarter two.
Expenditure
Total expenditure, including interest, increased by 16.0 per cent to
$5.4 billion mainly due to costs associated with a the 5.3 per cent
increase in capacity, including the cost of wet-leased aircraft,
higher fuel costs (hedging benefits were no longer available), and
higher engineering costs. Cost per Available Seat Kilometre increased
by 11.9 per cent.
Fuel
Fuel costs increased by 34.3 per cent, or $224.2 million. The
underlying fuel price was lower than last year giving a benefit of
around $130 million. However, the prior half-year included fuel
hedging benefits of $255 million. The cost of increased flying added a
further $45 million, while the weakness of the Australian Dollar
relative to the US Dollar, accounted for the remaining cost increase
of $51 million.
Exchange
Excluding the impacts of foreign exchange rate movements, total
revenue increased by 9.6 per cent and total expenditure increased by
12.7 per cent.
On average, exchange rates were weaker for the first half this year
than for the first half last year. The net impact of these
unfavourable foreign exchange movements was a cost increase of $82.4
million compared to the corresponding prior half-year.
Individually Significant Items
The prior period result included a pre-tax profit of $41.2 million
($35.0 million after tax) from the sale of the Qantas office buildings
in Coward Street, Mascot. The current period includes two offsetting
items being a pre-tax profit of $29.2 million from the sale of the
Group's remaining investment in EQUANT NV and a pre-tax expense of
$29.0 million to cover redundancy costs following the announcement of
job reductions in November.
Balance Sheet and Cash-flow
Cash flow from operations totalled $411.5 million, a decrease of $72.7
million or 15.0 per cent over the same half last year. This reduction
was primarily due to the reduction in profitability, partially offset
by favourable increases in working capital and lower tax payments.
The debt to debt plus equity ratio, (including operating leases on a
hedged basis) moved from 53:47 at 30 June 2001 to 48:52 at 31 December
2001. This improvement has been driven by operating cash-flow and the
raising of $663 million in equity during the period, offset by
progress payments made for the fleet upgrade
|
