Qantas jumps most in a month on strong revenue forecast, outweighing profit decline
BUZZ-Qantas jumps most in a month on strong revenue forecast, outweighing profit decline Updates with comment
** Qantas QAN.AX climbs as much as 5.1% to A$9.69, marking its sharpest intra-day gain since July 27
** Shares of the Australian flag carrier rank among ASX 200’s .AXJO top performers, which is down 0.8% on the day
** Australian flag carrier struck an upbeat tone on revenue outlook and outlined plans to retire its Airbus AIR.PA A380 fleet from 2028, even as soaring fuel costs drove a 14% decline in annual underlying profit
** "Result was a slight beat but there will be more focus on the outlook" - UBS
** Co forecasts first-half domestic and international unit revenue growth of 8% to 10%, outpacing Visible Alpha consensus estimates across both segments
** QAN declares a final dividend of 19.8 Australian cents a share, higher than last year's 16.5 Australian cents apiece
** Stock remains down 7.7% year-to-date, lagging the broader ASX 200, which has advanced about 4% over the same period
(Reporting by Kumar Tanishk & Rajasik Mukherjee in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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