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Qantas says profits up, strong travel demand ahead / Photo: DAVID GRAY - AFP
NYSE - LSE
Qantas says profits up, strong travel demand ahead
Qantas Airways said Thursday it lifted annual net profit and saw a bright outlook for travel demand, days after it was fined for illegally firing staff during the Covid-19 pandemic.
Australia's dominant airline group said rising passenger numbers boosted its financial performance, and it saw further revenue growth in the six months ahead for Qantas and its budget subsidiary Jetstar.
"While we are pleased with the progress we are making, we remain focused on further improving our performance," chief executive Vanessa Hudson said.
"Continuing strong demand across all market segments, combined with our dual brand strategy, helped the Group grow earnings," she said in a statement.
Qantas said revenue climbed 8.6 percent to Aus$23.8 billion (US$15.5 billion) in the 12 months to June 30, 2025 when compared to a year earlier.
Net profit surged 28.3 percent to Aus$1.6 billion.
Last week, an Australian court fined Qantas Aus$90 million for unlawfully laying off 1,800 ground staff during the Covid-19 pandemic.
The airline said Thursday it had paid the full penalty.
Qantas said it expected unit revenue on domestic and international routes to rise by a few percent in the six months to December 31, 2025.
The carrier said direct flights from Australia's east coast to London and New York -- its so-called Project Sunrise -- were "a step closer to reality".
The long-range Airbus A350-1000ULR aircraft for those flights were scheduled to enter final assembly in the coming months, with delivery expected in October 2026.
P.Graham--SMC
