Strong demand for Jetstar's recently launched domestic services in New Zealand has seen the company produce better than expected financial results.
Jetstar on Wednesday said its New Zealand arm achieved an underlying profit before tax in its first fully operational month of July.
The airline did not give an amount, but it is reportedly a six-figure sum, according to the New Zealand Herald.
The Qantas subsidiary has been in operation since June 10 and carried over 53,000 passengers in the weeks before the end June 30, and has carried over 200,000 passengers to date.
Jetstar's New Zealand business says revenue for the period to end of July exceeded forecasts, driven by higher than expected passenger volumes and seat factors (the percentage of total seats filled).
Passenger seat factor was 78% in June and over 80% in July.
The Jetstar group on Wednesday announced a record ebitdar (earnings before interest, tax, depreciation, amortisation and rent) of $AU393 million and similar record profit before tax $AU137 million for the financial year ending 30 June 2009.
The result helped offset the 88% profit drop in Qantas's annual result .
Qantas on Wednesday announced $AU117 million net profit for the
year to June, down from $AU969 million.
