Jetstar loses ground on Trans-Tasman routes, sends cash home to parent

Mon, 06 Jan 2014

By Paul McBeth Jan. 6 (BusinessDesk) - Jetstar, the discount unit of Australian airline Qantas Airways, lost ground on trans-Tasman routes last year, though 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 Companies Office. During that period, rival Air New Zealand...

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