Following the unraveling of the Qantas saga on 5 June 2012, unfortunately, once again, shareholders have lost and are likely to continue to lose. We saw the share price fall over 18% in one day and 2.6% the following day, and shares have hit an all-time low of 96 cents.
The company announced that its underlying profit before tax will be in the range of $50-$100 million for the financial year ending 30 June 2012. You may think that a profit's a profit, so everything is ok; but think again! There is no concept of underlying profit in the accounting standards. The reality is that according to analyst expectations, Qantas is more likely to make a statutory loss in 2012 of over $200 million.
You can acess the full article here.