COVID pandemic has hit its ‘nadir’, Qantas boss says amid $1.1bn loss | hijessicayun
Qantas’ boss Alan Joyce says the COVID-19 pandemic has hit its “nadir”, as he outlined an optimistic outlook for the second half of fiscal 2022 that hinges on borders remaining open and high demand for domestic travel.
“But every indicator is positive,” he added, citing high vaccination levels and their effectiveness against the Omicron variant. Just under 90 per cent of all Australians over 16 years old are double vaccinated, according to the“Our philosophy has been … that we just need to generate cash,” he said. “For us 2022 is not about making money, it’s about getting back to work, generating positive cash flows and repairing the balance sheet by building up that revenue.
On international travel, the company said it recently saw a “significant drop in booking momentum due to the news of the Omicron variant and the additional quarantine restrictions imposed.” “The news of the Omicron variant had a clear impact on people’s confidence to book international trips in particular, but we haven’t seen large numbers of cancellations,” Mr Joyce said, adding that Australia’s high vaccination levels would help manage uncertainty.
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