Qantas has posted a record interim pre-tax profit of $1.43 billion for the six months to December 31, 2021. Domestic flying levels had averaged 94% of pre-pandemic levels and international capacity had doubled to 60%. CEO Alan Joyce credited the strong travel demand for the airline\’s recovery, with fares up 20% on domestic routes and similar amounts in key markets such as the US and Europe. The airline has benefited from high airfares and reduced debt, but has upgraded its full-year capital expenditure guidance by $400 million and will not pay an interim dividend. Despite the good news, Qantas stock fell 6% on the news. Follow my Facebook group for further updates on Qantas and other airlines!Qantas has returned to profit after three years and $7 billion in statutory losses due to the pandemic. The national carrier posted a record interim pre-tax profit of $1.43 billion for the six months to December 31, 2021, driven by a rebound in air travel demand. Domestic flying levels had averaged 94% of pre-pandemic levels, while international capacity had doubled to 60%. Fares were up 20% on domestic routes and similar amounts in key markets such as the US and Europe. Net debt was down to $2.4 billion at December-end and the airline has upgraded its full-year capital expenditure guidance by $400 million. However, Qantas stock fell 6% on the news. Keep up with the latest news on Qantas and other airlines by following my Facebook group!
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