Pain before gain?

Flying Kangaroo bleeds red

For the first time in over 17 years, Qantas looks set to announce a net loss for the the 2011-12 financial year, driven by weakness in its international business.

Only weeks after the airline announced a major restructuring (see next item) and the consolidation of its heavy maintenance ac-tivities in Brisbane, the airline issued guid-ance that it expects underlying profit before tax (PBT) to reach $50-$100 million for the year ending June 30 – only 10-20 per cent of the $552 million underlying PBT recorded last year.

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