Qantas earns $150 million more than expected

Qantas Airways said that continued strong travel demand means it could generate $150 million (US$99.6 million) more in revenue than its previous forecast for the current six months.

The national airline now expects underlying pre-tax earnings for the six months ending Dec. 31 to be between $1.35 billion and $1.45 billion, up from its October forecast of $1.2 billion. Up from $1.3 billion.

Net debt is expected to decrease from $2.3 billion to $2.5 billion by the end of the year. Qantas Airways I expected it in the latest update.

A significant turnaround from $1.28 billion of underlying earnings loss. Qantas Airways Report for the first half of 2022.

“Consumers continue to prioritize travel over other spending categories.” Qantas Airways said in a statement to ASX on Wednesday.

“There are signs that international capacity constraints are boosting domestic leisure demand, benefiting Australian tourism.”

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A queue of Qantas aircraft at Kingsford Smith Airport in Sydney, Australia October 31, 2021. (James D. Morgan/Getty Images)

Qantas Airways said it expects to maintain its ranking as the most punctual domestic airline ahead of the busy Christmas season, when a fourth wave of COVID-19 is expected to hit.

“A $200 million investment in additional staff roster, continued recruitment and reserve aircraft will help maintain these levels,” it said.

Qantas Airways Customers also said they have used about 60% of the $2 billion in travel credits issued during the pandemic.

Epoch Times photo
Passengers wait to check-in for Qantas Airways at Sydney International Airport in Sydney, Australia March 19, 2020. (Mark Metcalfe/Getty Images)

Customers are using about $70 million in credit per month, and the airline said it will soon announce a new initiative to encourage customers to make full use of their remaining credit over the next year.

Qantas Airways It said it was adding capacity as quickly as possible while maintaining operational reliability, and that more “point planes” would be released soon. These are flights where all seats are bookable at a very low level. Qantas Airways point.

The airline also reported that fuel costs are expected to hit a “record high” of $5 billion in the 2023 fiscal year.

AEDT 11:00 a.m. Qantas Airways The stock rose 6.1% to $6.225, its highest level since February 2020.



Australian Associated Press is an Australian news agency.