Qantas reported a A$123 million ($101.3 million) net profit for its fiscal year ended June 30, down 87.3% from A$970 million earned in the prior year, and announced a three-year, A$1.5 billion cost-cutting program called "Q Future." CEO Alan Joyce said yesterday that the key driver of the reduced result was weaker domestic and international demand, particularly for premium travel, which led to a 4.3% yield decline and capacity cuts of 1.9% across the group. One-time events that also weighed ...

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