Qantas said total group yield, excluding foreign exchange for the financial year to April 2010, was 11.5 per cent lower when compared to the same period two years ago. "The international operating statistics were impacted during the month of April due to significant flight cancellations caused by the closure of northern European airspace as a result of volcanic activity," the company said in a statement. "While the low-fare aviation market has seen intensified competition, the premium market, including the business travel market, continues to improve demonstrating the positive effect of the portfolio strategy." Qantas said profit guidance for the group remained unchanged. Qantas expects underlying profit for the full year ending June 30, 2010 to be in the range of $300 million to $400 million.