Qantas has reported its third consecutive annual loss because of the pandemic as border closures and travel uncertainty due to the Delta and Omicron waves weighed on earnings. 7NEWS
People are flying again after the easing of pandemic restrictions but the national carrier simply was not ready, with the airline plagued by long queues, delayed flights, lost luggage and labour shortages after 10,000 redundancies were made.Revenue for the year jumped 53.5 per cent to $9.11 billion following a revival in global air travel after restrictions eased.By 3pm , the stock was up 6.4 per cent to $4.83 in a firm Australian market.
Qantas said flying levels for the year averaged 33 per cent of pre-pandemic levels after COVID outbreaks disrupted air travel, but finished the financial year at 68 per cent, spurred by a strong rebound in travel demand. “We always knew travel demand would recover strongly, but the speed and scale of that recovery has been exceptional,” Joyce said.Your cookie settings are preventing this third party content from displaying.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Qantas records $1.9 billion loss as it takes off again after pandemicQantas has recorded an underlying loss of nearly $2 billion, the third year in a row the airline has lost substantial amounts of money.
Read more »
Qantas posts ‘staggering’ $1.86 billion underlying lossQantas has posted its third consecutive loss of more than $1 billion since the start of the COVID-19 pandemic.
Read more »
'Potentially going bankrupt': Qantas boss grilled over mass sackingsQantas CEO Alan Joyce faced a grilling over his decision to sack thousands of staff in 2020 – insisting the airline was facing just weeks of survival - as he announced the airline had posted its third consecutive annual loss.
Read more »
Flight Centre argues demand will fly over inflation turbulenceThe travel giant posted a smaller $287 million loss, and says underlying earnings are turning around from the pandemic’s depths.
Read more »
Qantas plots $400m buyback; Perpetual to acquire PendalWATCH LIVE: Qantas earnings briefing; Whitehaven $1.95b record profit; Appen swings to half-year loss, warns on guidance; Charter Hall forecasts 6pc dividend growth; Eagers declares record interim dividend; Follow for updates.
Read more »