CORRECT Qantas loses ground on Trans-Tasman routes, NZ unit sends cash home to parent

Tue, 07 Jan 2014

(Fixes incorrect Qantas unit in headline, lead and 4th graph) By Paul McBeth Jan. 6 (BusinessDesk) – Australian airline Qantas Airways lost ground on trans-Tasman routes last year, though its New Zealand unit still managed to send some $156.2 million back to its parent. The airline’s subsidiary Jetconnect, which manages the group’s trans-Tasman passenger schedule, reported a 17 percent drop in profit to $8.8 million in the 12 months ended June 30, on an 11 percent drop in sales to $67 million, according to statements filed with the Companie...

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