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  Australia's Qantas announces 88 pct drop in net profit
Last updated: 2009-08-18


Australia's Qantas announces 88 pct drop in net profit
2009-08-18

Category
Earnings
Company
Qantas Airways
Source
(AFP)

SYDNEY (AFP) - Australian flag carrier Qantas on Thursday posted an 87.9 percent drop in its annual net profit to 117 million dollars (96.6 million US), down from 969 million dollars a year earlier.

The airline's profit before tax fell a whopping 87 percent to 181 million Australian dollars from 1.41 billion a year earlier, but the carrier said it was one of few in the world to produce a full year profit.

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