Qantas has staged the biggest brand comeback of 2016, according to a ranking of Australia’s top brands.
The national airline has returned to profit as it benefits from lower fuel prices, a $2 billion cost cutting program and an end to the seat war with Virgin Australia, and after the lows of the 2011 fleet grounding and several rounds of redundancies, the flying kangaroo is back big time.
According to analysis by Brand Finance, Qantas recorded the largest percentage increase in the Australia 100 bands with an 83% rise in value to almost $2.97 billion.
“In previous years the Qantas brand has demonstrated significant resilience during a period of turbulence for the airline industry along with significant cost cutting as part of a transformation plan,” Australia Brand Finance managing director, Mark Crowe.
“The resulting turnaround has been nothing short of outstanding.”
Here are the big winners, and losers, in the brand value stakes in Australia.
The decline in the resources sector is represented by falls in value for the BHP and in Rio Tinto brands.
By value Telstra is now Australia’s most valuable brand after increasing its brand value by 37% to $14.58 billion over the last year.
Telstra displaced Woolworths, which dropped to second spot after seven years as Australia’s top brand.
Here are the top 10 in Australia by brand value:
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.