Qantas yesterday reported a A$58 million ($52.2 million) profit for the half-year ended Dec. 31, down 72% from the A$210 million earned in the year-ago semester, and announced the elimination of first class service to all but two destinations in an effort to lift yield. The group result would have been a loss but for the contribution of low-cost subsidiary Jetstar Airways, which trebled its earnings, and the frequent-flyer program that doubled earnings. Consolidated revenue slumped 14% ...

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