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Submitted Assignment from the year 2018 in the subject Economics - Finance, grade: 65%, Coventry University (Emirates Aviation University), course: MBA in Aviation Management, language: English, abstract: Qantas and Virgin Australia have been Australia’s leading airlines and prime competitors in the regional market. An analysis of the airlines’ financial performance in the period 2015, 2016 and 2017 is presented in this report. The report begins with a short introduction into the dynamics of the airlines under review. The basis of financial analysis is discussed, where the six key financial analysis parameters (profitability, efficiency, liquidity, gearing, horizontal analysis and vertical analysis) are introduced, explained and summarized separately, for each airline. Qantas fulfilled all criteria for a stable airline except in gearing and liquidity analysis whereas Virgin Australia fell short in profitability and efficiency. A comparative analysis is provided where the performance of both Qantas and Virgin Australia is closely studied. A business performance review specific to Qantas is presented with a focus on both financial and non-financial aspects. A conclusion is provided which details out the major findings which are a by-product of the analysis. Lastly, few recommendations are provided based on the summarized conclusion which is of financial and non-financial nature. Qantas was found to be highly profitable in this review period. Virgin Australia meanwhile suffered significant losses and was in the recovery stage at the end of the analysis period.