Foundations in Accounting: Qantas Airways Financial Report Analysis

This report provides an in-depth analysis of Qantas Airways Limited, one of the largest domestic and international airlines. It begins with an introduction to Qantas, its history, and its position in the aviation industry. The report then describes the company and the telecommunications industry in which Telstra operates, discussing the competitive landscape and Telstra's strategic initiatives. It reviews the application of accounting standards (IFRS/AASB) in relation to the topics covered in the unit. It then delves into a literature review discussing the issues regarding the valuation of noncurrent assets under IFRS. The report highlights the company's vision, values, and strategic objectives, including its dual-brand strategy and focus on customer service. The analysis covers Qantas's stakeholders, competitors, and strategies, including its expansion in the Asian market and its low-cost airline, Jetstar. The report provides a comprehensive overview of Qantas's financial performance and strategic direction, offering valuable insights into the airline's operations and market position.

Qantas Airways Limited

Introduction
Qantas Airways is one of the largest domestic and international airlines. It was founded in 1920
ad operation started in March 1921. Its headquarter is in Mascot, Sydney in Australia. In order to
become the largest airline in the world, Qantas has made efforts. The company aims to provide
luxury travel services to passengers. It is the second oldest airline in the international market.
Qantas Airlines includes the two airline brands which are Qantas and Jet star. The USP of the
organization is leading the Australian flagship for serving the carrier services. It serves more
than 200 destinations. Their main focus is on the premium services and providing the luxury
class services to passengers. Qantas includes the three groups which are commercial, marketing
and operations (Qantas Airways, 2019).
Qantas' vision is to operate the world’s best premium airline. The values and objectives of the
organization are to ensure the safety of people, customer service excellence and provide
operational efficiency. Qantas is offering the air traveling services to all the major parts of the
world and they also include the long aircraft which carries the 450 passengers. Qantas group's
strategy is to deliver a sustainable return to shareholders. They consider safety as their first
priority. Qantas airlines believe in building customer loyalty with the help of dual-brand strategy
and service experience. Their strategy is to engaged and develops the Qantas people by
providing opportunities. Qantas offers the services to customers and shareholders. Qantas group
also generates the revenue by providing the Qantas catering, defense and engineering services
(Qantas Airways, 2018). The main stakeholders of the Qantas airlines are Suppliers, media,
Employees, alliances between airlines, competitors and airports. The strategy of Qantas airlines
is to grow the business tie up in the Asian market.
The main competitors of Qantas Airlines are Virgin Australia, United Airlines, Inc. and Thai
airways international. Virgin Airlines is a major competitor of Qantas as they include the cut-
price strategy. Qantas has launched the Jet Star in Australia as low-cost airlines (Qantas Group,
2020).

Reference
Qantas Airways. (2018). Annual report of the Qantas Airways Limited 2018. Retrieved from
https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgy
w/file/annual-reports/2018-Annual-Report-ASX.pdf
Qantas Airways. (2019). Annual report of the Qantas Airways Limited 2019. Retrieved from
https://investor.qantas.com/FormBuilder/_Resource/_module/doLLG5ufYkCyEPjF1tpgy
w/file/annual-reports/2019-Annual-Report-ASX.pdf
Qantas Group, (2020). Qantas group annual report. Retrieved from
https://investor.qantas.com/investors/?page=annual-reports