Qantas saves $550m on fuel
26 May 2015 by News Desk
Travellers are hoping for cheaper flights to Australia after Qantas announced it has saved $550m on fuel this year.
The Qantas group’s fuel costs were expected to dip below $4 billion in 2014/15, a reduction of at least $550 million from $4.5 billion in 2013/14. The total cost of fuel was tipped to come in between $3.92 billion and $3.95 billion.
The outlook for fuel had improved slightly since February, when Qantas said during its first half results presentation it expected fuel costs to be “no more than $4.0 billion at current prices”.
Meanwhile, Qantas expected to achieve $875 million in savings from its transformation program by the end of 2014/15. .The company also had “high visibility” on the $1.125 billion in savings still to be realised in 2015/16 and 2016/17 as part of its three-year, $2 billion transformation program.
