News
Qantas reports US$327.8 million interim loss
February 25th 2022
Qantas has reported an A$456 million (US$327.8 million) net loss for the six months to December 31; an improvement from a restated A$1.1 billion net loss in the same months in 2020. Read More » Revenue rose 31.9%, to A$3.1 billion, Qantas said in a regulatory filing to the Australian Securities Exchange. Underlying losses before tax - the company's preferred measure of financial performance - widened to A$1.3 billion in the half, from A$1 billion previously. Qantas Group CEO, Alan Joyce, said the company had lost an estimated A$22 billion in revenue since the outbreak of the pandemic.
Domestic capacity across its Qantas and Jetstar flying businesses is predicted to reach 68% of pre-COVID-19 levels by quarter three of 2022 and 90% -100% in the fourth quarter of the group’s fiscal year. International capacity is forecast at 22% and 44%, respectively, of pre-pandemic levels by the third and fourth quarters of 2022. Non-executive staff will be eligible for 1,000 shares in the company as "part of a retention and reward scheme to say thank you", the company said.
