Jetstar named CAPA Low Cost Carrier of the Year

Jetstar named CAPA Low Cost Carrier of the Year

The Centre for Asia Pacific Aviation (CAPA) has awarded Jetstar the "CAPA Low Cost Airline of the Year" in the Asia Pacific region, the second time the value based carrier has won the prestigious annual award in its short operational history.

Jetstar Chief Executive Officer Alan Joyce was in Singapore to accept the award at CAPA's Gala Awards Dinner and to participate in the Centre's annual conference featuring the Asia Pacific region's pre-eminent aviation leaders.

Australia's leading low fares airline in July this year secured the reputable SkyTrax Awards for "Best LCC in the World", "Best LCC in the Asia Pacific Region" and "Best Cabin Crew – Australia and New Zealand". Jetstar also achieved Airline Business Magazine's award for Operational Excellence.

"Jetstar's competitiveness across the Asia Pacific region has long been recognized, but to again win this award in such an environment is a wonderful result for our talented and dynamic team," Mr Joyce said.

"2007 has been a record year for Jetstar both financially and operationally. This prestigious award caps off a year of significant success as we've become one of two future growth brands in the Qantas Group.

"Jetstar is now developing into a pan Asian brand which forms a major part of our next phase of sustainable growth. Our challenge is to now build on this momentum and to continually improve."

Jetstar achieved a record AUD $115 million Profit Before Tax (PBT) result for the 2007 financial year (ex international start-up costs) with its Australian domestic operations achieving four-fold profit growth.

The successful on-time launch in November 2006 of its value based long haul international operations from Australia to key Asian and Asia Pacific ports also contributed a small PBT result, with other operational highlights including: - Carriage of 7.6 million passengers (rising 32 per cent) for the 2007FY also supported by rising seat factors and higher yields; - Industry leading cost base in the Australian market supporting Jetstar's low fares leadership; - Successful introduction of new customer initiatives including a two-class cabin service for long haul international flying (with StarClass); - Positive launch into the critical inbound tourism market of Japan from March 2007; and - Continued evolution of Jetstar.com into a one-stop travel website with strong traffic growth.

Mr Joyce said the successful start-up of its new value based long haul international operations, without hindering the continued strong performance of existing Australian domestic and trans Tasman services, was a clear catalyst for the CAPA award.

CAPA Executive Chairman Peter Harbison said: "Jetstar is forging a path other LCCs around the world are watching and following. Its breakthrough long haul services have positioned not only Jetstar, but the wider Qantas Group, to capitalise on the Australian outbound travel boom, while its low cost focus gives the Group a strong backbone to address rising short-haul competition."

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