TIX PLEASE: Qantas Has Revealed Plans For Direct Flights To NYC & London

TIX PLEASE: Qantas Has Revealed Plans For Direct Flights To NYC & London

Next year the airline plans to operate non-stop between Perth and London. "Both manufacturers are developing aircraft that can nearly do the job", he said.

The underlying result represents the second highest performance in Qantas' 97 year history, down 8.6 per cent compared with last year's record.

The latest Qantas results mark the completion of a three-year A$2 billion turnaround program to make the airline group sustainably profitable.

The flight from Sydney to London will on most days take a northern polar route rather than the usual western crossing over Asia and Europe, said the source, who did not want to be named as he was not authorised to speak publicly about the matter.

Qantas has delivered its second-highest profit ever as its continues to enjoy earnings growth from domestic flights and in its loyalty business. "Today's announcements show this plan has well-and-truly paid off", said chief executive Alan Joyce.

Qantas has returned to date A$2.1 billion to its shareholders in the past two years.

In an announcement made Friday in Australia, Qantas estimated flights from Sydney - its biggest hub - would take roughly 20 hours and 20 minutes to London and a little more than 18 hours to NY.

"We tackled some hard structural issues, became a lot more efficient and kept improving customer service".

"We believe advances in the next few years will close the gap, and Qantas has the unique operational experience to be the airline that helps make it happen", said Joyce.

Citi's Anthony Moulder said despite narrowing margins in the global business and the economy carrier Jetstar, the overall result was better than expected.

The airline confirmed it was investigating direct flights from the east coast of Australia to London, New York, Paris and Rio de Janeiro by 2022.

Qantas also announced a A$373m on-market share buyback and declared a dividend of 7c a share.

"We operate in a very competitive environment, so continuous improvement is crucial", he says.

Qantas has announced it will launch nonstop flights from Australia's eastern capitals to NY and London by 2022 - if Airbus or Boeing can deliver a plane capable of flying the distance.

Qantas shares fell 1 per cent to A$5.74 in morning trade, while the broader S&P/ASX 200 index fell 0.17 per cent.

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