Qantas’ annual profit beats estimates on strong travel demand

AUSTRALIAN carrier Qantas Airways posted a better-than-expected annual underlying profit on Thursday, driven by robust travel demand across its domestic and international routes, which it expects to continue into the ongoing business year.

Qantas, which has been striving to rebuild its reputation after a string of damaging years since the pandemic, reported strong growth in earnings for its domestic and international divisions, as well as its budget arm, Jetstar.

“Continuing strong demand across all market segments, combined with our dual brand strategy, helped the Group grow earnings,” said CEO Vanessa Hudson.

The flag carrier reported underlying profit before tax of A$2.39 billion (S$2 billion) for the year ended June 30, beating the Visible Alpha consensus estimate of A$2.38 billion and above the prior year’s A$2.08 billion.

It also announced a final dividend of 16.5 Australian cents per share and a special dividend of 9.9 Australian cents apiece.

The airline also placed an order for Airbus’ 20 additional narrowbody A321XLR aircraft as part of its broader ongoing fleet renewal programme. REUTERS