2002 Qantas Annual Report

QANTAS CARRIED MORE THAN 27 MILLION PASSENGERS DURING THE YEAR
Year Ended 30 June 2002 2001 2000 1999 1998
Sales and Operating Revenue $M 11,322.6 10,188.2 9,106.8 8,448.7 8,131.5
Earnings Before Interest and Tax $M 679.3 695.8 874.0 762.6 581.7
Profit From Ordinary Activities Before Tax $M 631.0 597.1 762.8 662.5 478.0
Net Profit Attributable to Members of the Company $M 428.0 415.4 517.3 421.6 304.8
Earnings per Share cents 29.1 33.0 42.8 35.4 26.8
Ordinary Dividends per Share cents 17.0 20.0 22.0 19.0 13.5
Passengers Carried 000 27,128 22,147 20,485 19,236 18,865
Available Seat Kilometres M 95,944 92,943 85,033 81,765 81,537
Revenue Passenger Kilometres M 75,134 70,540 64,149 59,863 58,619
Revenue Seat Factor % 78.3 75.9 75.4 73.2 71.9
Aircraft in Service at Balance Date # 193 178 147 135 146
• seeking mutually beneficial partnerships with other
quality airlines. For example, Qantas is in
discussions with Air New Zealand about the
possibility of a strategic alliance between the two
companies and an acquisition by Qantas of a
minority equity interest in Air New Zealand. No
agreement or commitment has been reached or
entered into at this time and any agreement would
be conditional on a number of approvals.
Qantas is also well placed to continue substantial
investment in new aircraft, upgraded inflight products
and airport infrastructure. This investment is needed
as our competitors are also upgrading aircraft and
product and competing aggressively.
On 21 August 2002, Qantas announced it intended
to raise approximately $800 million of ordinary equity
through an entitlement offer to existing shareholders
to support our capital expenditure program and help
fund other potential investment opportunities that
may arise.
The institutional entitlement offer closed successfully
on 23 August and the retail entitlement offer is
expected to close on 27 September.
These strategic initiatives and substantial investment
programs confirm our commitment to:
• our customers, who will enjoy further improved
facilities and services;
• our employees, who will benefit from the airline’s
strong foundations and growth opportunities;
• our shareholders, who expect us to grow and be
profitable; and
• the Australian community, which we continue to
support by employing over 31,000 Australians,
spending billions of dollars with Australian suppliers
and being a major supporter of arts, sports and
charitable organisations.
Chairman Margaret Jackson
Chief Executive Officer Geoff Dixon
p
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THE SPIRIT OF AUSTRALIA