QAN financial and non-financial news

Another article showing the importance of knowing what you need to look for. Qantas' recent earnings announcement - Michael Pascoe goes behind the Income Statement.

Here's the start:

The passenger figures Qantas released to the stock exchange yesterday weren't flash - but the unannounced financial reality was much, much worse.
While Qantas told the ASX its May Qantas International and Jetstar International revenue seat factors were up 4 and 4.8 percentage points respectively, it didn't say that its yield on the combined international business had collapsed by 25 per cent.

Understanding how QAN makes its money is the starting point.