Qantas CEO Joyce to expand international unit after turnaround

[SYDNEY] Qantas Airways Ltd plans to expand its international business after a three-year restructuring delivered record profits for the Australian carrier.

The international division, which was losing money before the turnaround, is now in a position to grow, Chief Executive Officer Alan Joyce said in an interview in Beijing with Bloomberg Television. "Its cost base is right, its profitability is right,'' said Joyce, who had earlier flown on Qantas's first service to Beijing from Sydney since the route was axed following the global financial crisis.

In December, Australia's government announced an agreement with China to remove all flight capacity restrictions between the two nations. Joyce said he sees "huge benefits" from that accord. "There is a lot of growth" in China, he said.

BLOOMBERG