News
Qantas Group delivers lower annual profit, announces additional share buyback
August 30th 2024
Qantas Group recorded an Underlying Profit Before Tax of A$2.08 billion (US$1.42 billion) for the year ending 30 June, a 16% decline over the previous year. Read More » Profit after tax declined 28%, to A$1.5 billion. The group attributed the reduced profit to lower fares, spending on customers and weaker freight revenue. “This result shows the underlying strength of the Group’s integrated portfolio. Qantas benefited from increased corporate and resources travel and ongoing high demand for international premium seats while Jetstar delivered its highest result as it grew to meet increased demand from price-sensitive leisure travelers and efficiencies reaped from new aircraft entering its fleet, Qantas Group CEO, Vanessa Hudson, said. The company announced an additional share buyback and did not issue a dividend.
