QAN

Airline carrier, Qantas (ASX:QAN) has reported its first half results to shareholders, investors and traders.

• Qantas Net Profit for the six months to December was $111 million, up from $42 million in the previous corresponding period.
• The profit result includes $125 million payment from Boeing (BA in Nasdaq) as part of changes to Qantas' Boeing 787 Dreamliner orders

Australian airline carrier, Qantas (ASX:QAN) have sold its 50 percent shareholding of StarTrack Express to Australia Post.

• Qantas will receive $408 million from selling its 50 percent stake in road freight business, Star Track Express to Australia Post.
• Previously, Qantas and Australia Post owned 50 percent each of both Star Track Express and Australian Air Express.

Australian airliner, Qantas (ASX:QAN) has extended a code share agreement with South African Airlines (SAA) for two years following regulatory approval.

• The regulator, International Air Services Commission (IASC) imposed conditions that the two airlines will operate 13 flights a week between, Australia and Johannesburg.
• Qantas and SAA are the only two airlines that fly between Australia and South Africa.

Last week, Qantas (ASX:QAN) announced an alliance with Middle East based Emirates. Here are the relevant summary points of the alliance deal between Emirates and Qantas:

• Qantas signs a 10 year Alliance with Emirates Airlines, the world's largest airline by passenger traffic
• Qantas CEO Alan Joyce said, "We see a path through to this business breaking even by financial year 2015. We do want to make sure Qantas international goes back to profits."

Australian airlines carrier, Qantas (ASX:QAN) have announced its full year results for FY 2012.

• Larger than expected headline loss for FY 2012 of $244 million after tax. Last year the airline brought in profits of $250 million.
• Airline cancels large US$8.5 million order for 35 new Boeing 787 aircraft.
• The Boeing Dreamliner order cancellation will reduce Qantas capital spend by $US8.5 billion (A$8.1 billion).

Qantas Airways (QAN) may get a return of more than $350 million if Sydney Airport agrees to terminate long term leases on its domestic terminal, jet and freight bases earlier than its expiration. The airport reported yesterday about its plans to put Qantas, Jetstar and the group's international alliance partners under terminals T2 and T3, while Virgin Australia will shift its operations under the international terminal.

Qantas Airways (QAN) expects its net profit to fall to between $140 million to $190 million for the first half of the fiscal year. The airline blamed the rising fuel costs and industrial disputes that amounted to $650 million for its first half fall in profits.

"The group's first-half performance reflects a challenging operating environment, with uncertainty in global economic conditions, elevated fuel prices and volatile foreign exchange rates," said Qantas.

As the 21 days of negotiations expire, Qantas (QAN) says they are committed to reaching an agreement with the Transport Workers Union (TWU), and the pilots' and aircraft engineer's union by midnight tonight, but the three unions believe otherwise. Qantas Spokeswoman Olivia Wirth said, "We're very much committed to these negotiations and we hope that we can come to a settlement."

There are no floats but there are a couple of ex-dividends scheduled for tomorrow and there are quite a few companies who are holding their Annual General Meeting on Friday 28 October, 2011.

Annual General Meetings

Here is a list of companies who have scheduled an AGM today: