This Is Where Alan Joyce Sees Growth For Qantas Over The Next Five Years

Alan Joyce. Picture: Getty Images

Alan Joyce, the CEO of Qantas, is a big believer in the airline’s traditional markets, the US and the UK.

He says the Chinese market has huge opportunities but so far it’s still a market with low yield and high volume.

“The greatest growth for Qantas over the next three to five years – we still believe – is in the traditional markets,” he says in an interview for PwC’s annual Australian CEO survey.

“The United States is a huge market for Qantas. We’ve added extra capacity: about 100 frequencies over the peak period, because we see good strength coming out of the US market.

“We still have a big operation into London and we see the UK market also as an area of potential growth going forward.”

Qantas is expected to hit profit of between $300 million and $350 million in the six months to the end of December 2014.

The strong turnaround is being driven by rapid progress in a $2 billion restructuring program including a loss of 5,000 jobs. Qantas says all targets have been either met or exceeded.

The airline is also benefiting from fall oiling prices.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.