Qantas posts $2.5bn profit as travel demand roars back

qantas

Qantas has posted a full-year profit of $2.47 billion in a remarkable turnaround for the carrier which saw revenue grow to $19.8 billion off the back of robust domestic capacity which is above pre-Covid levels.

The carrier also announced it will purchase two dozen new aircraft to replace its current fleet of Airbus A330s.

“These results show a substantial turnaround in both our finances and service over the past year,” said Qantas chief executive Alan Joyce.

“Travel demand is incredibly robust and we’ve taken delivery of more aircraft and opened up new routes to help meet it.”

Qantas will buy another dozen Boeing 787s and a dozen Airbus A350s, which Joyce called a “another multi-billion investment in the national carrier”.

Joyce also said the carrier’s international capacity should return to pre-Covid levels by mid-2024. It is currently sitting at around 80 per cent.