A remarkable surge in demand and cash flow has helped Qantas slash its debt and sent its stock up 30 per cent in eight weeks.
While much of the attention will be on the airline’s flashy announcement that it will finally
Qantas CEO Alan Joyce: The airline expects domestic capacity to hit 105 per cent of pre-COVID-19 levels in the June quarter.Ordering 12 Airbus A350-1000s is made possible because of the surge in free cash flow that Qantas has enjoyed as Australians have shrugged off COVID-19 restrictions and got back to travelling.
The trading update Qantas delivered on Monday adds to a recovery narrative that has gathered pace in a very short period of time; since March 8, the stock has climbed more than 30 per cent. Qantas expects domestic capacity to hit 105 per cent of pre-COVID-19 levels in the June quarter, with international capacity back to 44 per cent. In fact, demand is so strong that the prospect of more expensive flights appears to be little deterrent for travellers., things aren’t so rosy heading into the 2023 financial year. But chief executive Alan Joyce doesn’t appear worried.
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