interact with our community. Qantas has announced half-year profits of more than A$1.4bn in a dramatic turnaround of the airline's fortunes since last year. "And there is also a price point where consumers will say, 'Well, rather than fly I'll drive', or 'Rather than flyingI'll have a Zoom [meeting]'.". In what has been the most challenging period in its long history, the Qantas Group reported a $124 million Underlying Profit Before Tax for the 12 months ended 30 June 2020, down 91 per cent on the prior year. Talking point: have you given up on airport WiFi? Please do not hesitate to contact me. That is why it is priced the same as 3 years ago. Currently, you are using a shared account. T&Cs apply. He just keeps injecting more expense into every farethat you buy.". 20,000 non-executive staff rewarded with $500 travel credit; recovery bonuses now up to $11,500 each in cash and shares. February 22, 2023, 8:18 PM SYDNEY -- Australian national carrier Qantas posted an underlying pre-tax half-year profit of 1.43 billion Australian dollars ($978 million) on Thursday in the airline's first return to profit since the coronavirus pandemic started three years ago. "The airlines and that's not just Qantasbut it's a sort of global thing that's happening at the moment are all preparing themselves for procuring new aircraftthat are a lot more fuel-efficientand, therefore, less carbon-emitting. Domestic flying in New Zealand was planning a return to near-full capacity by end-August but remains flexible given changing restrictions. Plus, receive 2 complimentary Qantas Club airport lounge passes each year. To use individual functions (e.g., mark statistics as favourites, set As a Premium user you get access to the detailed source references and background information about this statistic. But on October 13, chief executive Alan Joyce shocked the market: earnings would actually come in between $1.2 . below, then click 'Submit'. "Total Revenue of Qantas in Australia from The Financial Year 2015 to 2022 (in Billion Australian Dollars). Even on the domestic front, state border closures continue to wreak havoc on planning: Joyce observed last week that the airline remains pegged at 20% of pre-COVID capacity, not the 45% it hoped to see if border restrictions had softened. Qantas and Jetstar operated a series of domestic, regional and international flights on behalf of the Federal Government, as well as some freight services, to maintain critical links that had been made commercially unviable by travel restrictions. Heres how to transition your portfolio from growth to income. third "Qantas are charging prices that are way too high or wages that are way too low," he said. Significantly increased flexibility for travel credits as well as providing refunds. "When we restructured the business at the start of COVID, it was to make sure we could bounce back quickly when travel returned,"he said in a statement. Add to that it has a weak competitor (compare to 3 years ago).the list is endless. Qantas. Learn more about how Statista can support your business. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Throw in $5 Billion of debt and no Increase of income anywhere is sight. Qantas Domestic achieved EBIT of $173 million while Jetstars domestic flying achieved EBIT of $112 million, including absorbing a $33 million impact of industrial action over the peak summer period. Launched the Fly Well program with range of measures (including masks, hand sanitising stations, changes to inflight service) to ensure a safe travel environment and give extra peace of mind. You need a Statista Account for unlimited access. The airline now expects to make an underlying profit of between $1.35-1.45 billion for the current half-year. used by wealth managers, institutional investors and fintech platforms around AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/qantas-profit-result-february-2023/102012212, Help keep family & friends informed by sharing this article, 'If I had the money, I would take them to court', Prestigious girls' school drama teacher guilty of sexually abusing students in 1980s, Superb Lyon claims eight-wicket haul, Australia chasing 76 for victory in third Test, Rajwinder Singh charged with murder over the death of Toyah Cordingley, China has taken a 'dramatic' lead in critical technologies used for military power, report says, British MP rejects Dutton's claim the UK does not have capacity to build Australia's nuclear-powered subs, How Maggie Dent's smart watch helped her avoid a potential stroke, and her message for women everywhere, NT Police sergeant denies offering legal defence to Zachary Rolfe after shooting of Kumanjayi Walker, Melbourne Storm edge Parramatta in golden point as NRL season makes thrilling start, Aaryan's parents have skills Australia desperately needs. Jetstar Japan was impacted by local lockdowns but resumed all domestic routes in July and is planning to operate 75 per cent of pre-COVID capacity in August. Learn More. Between them, the social media groups have about 12,000 members. , Nov 8, 2022. As soon as this statistic is updated, you will immediately be notified via e-mail. Net debt declined to $2.4 billion. Given current border restrictions, 20 per cent of pre-COVID Group Domestic capacity is scheduled for August. Fast action to radically cut costs and place much of the flying business into a form of hibernation helped minimise the financial impact from this extraordinary sequence of events. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Analyst Matthew Findlay from Ailevon Pacific Aviation Consulting said strong demand and limited capacity is driving higher airfares and bigger profit margins. Travel plans disrupted by the pandemic have left hundreds of thousands of Australians with billions of dollars of flight credits, but there have beenissues around flight credit schemes, including incomprehensible terms and conditions and the inability to transfer them to family members. Change value during other periods is calculated as the difference between the last trade and the most recent settle. "So, that means that they can keep the cost under control, but they can also then get more bums on seats on those aircraft that they do fly," he told The Business. Qantas posts $1.4b half-year profit. Early retirement of the Boeing 747 fleet and more than 100 aircraft now in storage (in a state that significantly reduces the need for ongoing maintenance). What they see and what the seller sees are two different thing. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. To 30 June 2020, the total gross benefit of Government support was $515 million and the net benefit (after costs for flights operated) was $15 million. Resend one to yourself here. "Qantas is conscious that they can't charge prices too high forever, because it'll turn off consumers, and so they will put sale fares out there just to try to attract consumers," he explained. The main reasons for this decline were lower earnings from travel-related products and a softening in consumer spending on credit cards. A number of customer initiatives were introduced during the year, including: In recognition of the significant impact of the COVID crisis on its people, the Group has put a variety of support mechanisms in place, including: The Groups available liquidity was $4.5 billion at 30 June 2020, including $1 billion of undrawn facilities. Joyce may also offer an update on the three-year 'rightsize, restructure and recapitalise' plan announced in late June to raise almost $1.9 billion in equity and reduce costs by a staggering $15 billion. Looking for stock dividends of 9% to 11%? Really. The airline flagged that low levels of net debt put the board in a position to consider future shareholder returns in February next year, consistent with Qantas Group's financial framework and phasing of capital expenditure for fleet renewal. "We absolutely didn't deliver on our customers last year. What Qantas trades for today already has priced into it last year, this year and many future years of earnings. After three years and $7 billion in statutory losses due to the pandemic, the Qantas Group has returned to profit with a record result for the first half of FY23. ", Qantas, Statutory profit after tax of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars) Statista, https://www.statista.com/statistics/1084208/australia-statutory-profit-after-tax-of-qantas/ (last visited March 02, 2023), Statutory profit after tax of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars) [Graph], Qantas, November 8, 2022. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. In a tale of two halves, this was helped by a strong first half of the financial year in 2019 with an estimated $770 million profit, before a near-total collapse of travel demand in 2020 resulted in a $4 billion drop in revenue in the second half. That means we can get more of our people back to work. As a Premium user you get access to the detailed source references and background information about this statistic. We acknowledge Aboriginal and Torres Strait Islander peoples as the First Australians and Traditional Custodians of the lands where we live, learn, and work. This included launching new Qantas routes such as Sydney to Ballina and Orange, and redeploying A320s to meet resources sector demand in Western Australia. It comes after the company lost more than A$7bn during the pandemic . That was a dramatic reversal from Qantas' A$1.1 billion operating loss a year earlier, and a two-thirds jump from its A$900 million operating profit during the same . A classic example is Uber - has never made a profit, looses $USD8b last year, won't make a profit for many years but people are still buying its shares for its future earnings. This dividend-stock ETF has a 12% yield and is beating the S&P 500 by a substantial amount, How to invest using Warren Buffetts secret sauce. Most airlines will come through this crisis a lot leaner, which means we have to reinvent how we run parts of our business to succeed in a changed market.. Statista. Numbers have been rounded. Source: Kantar Media. Offered customers with new bookings the option to move flights with no change or cancellation fees. Australia had some of the worlds toughest restrictions on international and domestic travel during the pandemic, which hit the Sydney-based airline hard. Data may be intentionally delayed pursuant to supplier requirements. Qantas accused of 'ripping off' customers after posting record $1.4bn half-year profit. Visit a quote page and your recently viewed tickers will be displayed here. Qantas International made a $56 million profit for the year, driven largely by a record performance by Qantas Freight and a huge increase in e-commerce. Qantas has posted a record underlying pre-tax profit of $1.42 billion in the half year to December, a big turnaround from its $1.2 billion loss in the prior . The company's preferred underlying pre-tax profit measure rose even more, from a loss of $1.3 billion to a profit above $1.4 billion, as the airline's revenue more than tripled to nearly $10 . Read more He said he expected the region would lose up to two Melbourne services in the coming months. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), abc.net.au/news/qantas-upgrades-profit-forecast-by-150-million-post-travel-boom/101687326, Help keep family & friends informed by sharing this article, 'If I had the money, I would take them to court'. Planned net capital expenditure was reduced by $400 million in the second half for a total of $1.6 billion for FY20. QAN.AU | Qantas Airways Ltd. Available: https://www.statista.com/statistics/1084194/australia-total-revenue-of-qantas/, Total revenue of Qantas in Australia from the financial year 2015 to 2022, Available to download in PNG, PDF, XLS format, Passenger kilometers flown by airline worldwide 2020, Total air traffic passengers traveling to/from the United States 2006-2022, Frankfurt Airport: number of passengers 2001-2021, Passenger traffic at Tokyo International Airport in Japan 2012-2021, Number of terminal passengers at Narita Airport in Japan 2013-2022, Daily average of terminal passengers at Narita airport in Japan 2013-2022, Number of flights Incheon International Airport South Korea 2014-2021, Number of international visitors to Australia FY 2010-2022, Number of domestic flights in Australia FY 2011-2021, Number of international flights in Australia FY 2011-2021, Most popular domestic air travel routes Australia 2021, Inbound international aviation capacity growth Australia 2010-2021, International departures from Australia 2020 by country, International arrivals to Australia 2020 by country, Scheduled and flown flights by domestic airlines in Australia 2021, Punctuality of domestic airlines in Australia 2021, Punctuality share of domestic airlines in Australia 2021, Flights cancelled by domestic airlines in Australia 2021, Share of flights cancelled by domestic airlines in Australia 2021, Qantas total revenue in Australia FY 2015-2022, Qantas available seat kilometers in Australia FY 2015-2022, Qantas total passengers carried Australia FY 2015-2022, Busiest airports in Australia - passenger movements 2021, Regional airports in Australia - passenger movements 2021, Number of visitors at Sydney Airport Australia Feb 2019- Oct 2022, by passenger type, Number of domestic passengers at Sydney Airport in Australia 2019-2020, Number of international passengers at Sydney Airport in Australia 2019-2020, Qantas net capital expenditure in Australia FY 2015-2022, Qantas revenue seat kilometers in Australia FY 2015-2022, Qantas statutory profit before tax in Australia FY 2015-2020, Qantas aircraft in service in Australia FY 2015-2022, Qantas statutory profit after tax in Australia FY 2015-2022, Qantas Group - Worldwide passenger numbers 2009-2011, Qantas Group - Worldwide revenue 2007-2011, Qantas net free cash flow in Australia FY 2015-2022, Qantas cash flow from operations in Australia FY 2015-2022, Qantas net debt in Australia FY 2015-2022, ANA Holdings' operating revenue share FY 2021, by segment, Number of passengers at Vagar Airport in the Faroe Islands 2009-2021, Distribution of check-in methods at Copenhagen Airport 2019, Distribution of passengers at Copenhagen Airport 2019, by age group, Expenses of Air Service Australia FY 2015-2018, Total comprehensive income of Air Service Australia FY 2015-2018, Cash flow from financing activities of Air Service Australia FY 2015-2018, Live private rocket launches viewers by gender U.S. 2019, Total revenue of Qantas in Australia from the financial year 2015 to 2022 (in billion Australian dollars), Find your information in our database containing over 20,000 reports. 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