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Qantas, Australia's biggest airline, which is currently facing a potential private equity takeover bid, reported a net profit of A$479.5 million (NZ$552m) in 2005/06.
The airline bumped up its profit expectations at its annual general meeting in October, saying it expected its fiscal 2007 result to exceed the previous year's, though no firm numbers were given.
At the time, Qantas chairman Margaret Jackson said trading conditions had improved since the company's earlier forecast in June for fiscal 2007 earnings in line with the prior year.
Qantas also revealed plans at the meeting to cut 340 jobs as part of an ongoing cost-cutting program.
The move was tied in with a decision to outsource the aviation giant's IT support and maintenance operations Indian companies Satyam Computer Services Ltd and Tata Consulting Services.
Earlier this month, the national airline said it had received a takeover approach from a consortium led by Macquarie Bank and US private equity firm Texas Pacific Group.
No details of any proposal have been revealed, but the group is believed to be carrying out due diligence on the company.
- AAP
