Asia Pacific offers 201011 opportunities Qantas AGM

first_imgQantas CEO Alan Joyce said that “significant opportunities will be unleashed” in the Asia Pacific in 2010/11. “Looking ahead, there are many challenges, but also one unmistakable opportunity,” Mr. Joyce told the company’s annual general meeting in Adelaide this morning. “In 2009, according to the International Air Transport Association (IATA) the Asia Pacific became the world’s biggest aviation market, five years earlier than predicted. “By 2013, IATA predicts that Asia-Pacific’s market share will grow to almost one-third oftotal global passenger traffic.” Qantas Chairman Leigh Clifford said that the airline is beginning to see a recovery that is flowing into its international business. “But it is early days and it is patchy. There remains challenges for two of our biggest markets, the US and the UK. “Domestically Qantas has an unrivalled network connecting the major cities and regional and rural Australia. Here too the recovery is underway. “The business market is certainly returning, while the leisure market has been affected by significant capacity increases.” Mr Clifford also responded to questions relating to the Board’s approach to a dividend. “The Board believes in paying a dividend to shareholders whenever possible. This year careful consideration was given to the matter. “Over the coming period the Qantas Group will need to service its very high capital requirements, including in fleet renewal, and retaining a high credit rating remains a priority. “With this in mind, the Board decided not to pay an interim or final dividend in 2009/10 and future dividends will need to be assessed against ongoing earnings performance and capital requirements.” Source = e-Travel Blackboard: C.Flast_img

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