QANTAS AIRWAYS LIMITED : Qantas Airways Ltd Half-Year Results, 16 ... - 4-traders (press release)

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QANTAS AIRWAYS LIMITED : Qantas Airways Ltd Half-Year Results, 16 ... - 4-traders (press release)

SYDNEY, 16 February 2012

Let me begin with the context in which we deliver our
half-year results today.

Competitive realities

Australian companies like Qantas confront three competitive
realities.

First, is the ongoing reshaping of global finances.

The painful economic restructuring in Europe is far from
over.

We are seeing job losses in the financial sector, including
in Australia.

We are continuing to see a significant credit squeeze that
is affecting the borrowing costs of Australian banks.

Second, is the rebalancing of global economic weight to
Asia, and particularly China.

Australia's resources sector is a prime beneficiary of this
shift and the Qantas Group is also benefiting, both in
Australia and Asia.

Asia will continue to offer significant growth



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