Stunning turnaround: Qantas is profitable again

The airline group “is now targeting A$675 million of transformation benefits in financial year 2015, up from the previous target of A$600 million,” according to a Qantas statement.

The fast turnaround at “The Flying Kangaroo” comes as a surprise.

“We are meeting or exceeding all our targets as we build a sustainable future for Qantas with an emphasis on growing long-term shareholder value,” said Joyce.

“Our financial position is significantly stronger because of the actions we’ve taken, and we are giving Qantas a solid foundation for growth in earnings.”