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Qantas forecasts US$1.6 billion underlying profit for fiscal 2022-2023
May 24th 2023
Qantas Group expects to post an underlying profit before tax ranging from A$2.43 billion (US$1.6 billion) to A$2.48 billion for the 12 months to June 30. Read More » The forecast result compares with the group’s underlying loss before tax of A$1.86 billion in the year-ago period. The airline company is returning to the black on the back of strong air travel demand and yields materially above pre-COVID levels. At its two airlines, Qantas Airways and Jetstar, domestic capacity is forecast to reach 108% of pre-pandemic levels in the six months to December 31 and for international capacity to hit 85% of pre-pandemic numbers in the same period. “The industry remains capacity constrained and the travel category remains strong, so there is still a mismatch between supply and demand that is likely to persist for some time, especially for international flying,” Qantas Group CEO, Alan Joyce, said.
