Qantas has reported a $1.9 billion underlying loss in the year to June 30, its third huge loss in a row as its recovery from COVID-19 continues before the airline finally expects to return to profitability in the next financial year.
Qantas has reported a $1.9 billion underlying before-tax loss in the year to June 30, its third huge loss in a row as its recovery from COVID-19 continues before the airline expects toThis was a 5 per cent drop on last year when border closures, lockdowns and other pandemic restrictions kept aviation grounded. It was in-line with analyst expectations.
Chief executive Alan Joyce said the losses from the pandemic totalled near $7 billion over the last three years.The company announced a $400 million on-market buyback too, which Mr Joyce said was a reflection of the confidence the airline had in the future. “The past year has been challenging for everyone. We had to ramp down almost all flying once delta hit and stay that way for several months before ramping back up through multiple omicron waves,” he added on Thursday.
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