Qantas 2002 Annual Report Download - page 5

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THE SPIRIT OF AUSTRALIA p3
BOARD CHANGES Paul Anderson was appointed a
non-executive Director on the Qantas Board on 2
September 2002. Mr Anderson has outstanding
management and operational skills and an
extraordinary record as a senior executive in the
international mining and energy industries. We are
delighted that he is bringing his diverse range of
corporate skills to Qantas.
In November 2001, Rod Eddington stepped down as
a non-executive Director. This followed a $450 million
placement of shares by Qantas in October 2001 and
the consequent reduction of British Airways’
shareholding in Qantas to less than 22.5 per cent.
As a result, British Airways was entitled to appoint
two, rather than three, Directors to the Qantas Board.
Roger Maynard and Nick Tait continue to serve on
the Qantas Board as Directors appointed by British
Airways. It has been a pleasure to have had Rod serve
on the Qantas Board, we thank him for his
involvement and we will continue to work with him
in his role as Chief Executive of British Airways.
GOING FORWARD Qantas will continue its strategies of:
•segmenting its flying business to align costs and
revenues in particular markets. This will see Qantas
operate:
■the premium Qantas international product with
three and two-class service;
■Australian Airlines, a full-service, single class
international carrier that will begin flying between
Cairns and a number of Asian ports from
27 October;
■Cityflyer, the two-class domestic “shuttle” service
tailored for business travellers on the popular
Sydney–Melbourne, Sydney–Brisbane and
Melbourne–Brisbane routes and which will
soon be extended to Adelaide and Perth;
■the full service, two-class product for other
domestic destinations;
■an all economy domestic service for leisure routes
where there is little or no demand for business
travel; and
■expanded QantasLink services to regional Australia.
•investing in and growing subsidiary businesses –
QantasLink, Qantas Flight Catering, Qantas Holidays
and Qantas Freight – so that in the future they can
contribute about one third of Qantas profits.
9899000102
11,322.6
10,188.2
9,106.8
8,448.7 8,131.5
Sales and Operating Revenue
$M
9899000102
17.0 9.0
11.0
11.0
7.0
20.0
22.0
19.0
13.5
11.0
9.0
8.0
11.0
8.0
6.5
Ordinary Dividends per Share*
Cents per Share
Final
Interim
TOTAL FULLY FRANKED DIVIDENDS FOR THE YEAR OF 17 CENTS PER SHARE
*Excludes special dividends paid