
FlyWithFavour
February 27, 2025 at 09:47 PM
*Qantas Group Reports $875 Million Profit In Half-Year Results*
Qantas Airways has reported a robust financial performance for the half-year ending December 31, 2024, with an underlying profit before tax of A$1.39 billion (approximately $875 million USD), marking an 11% increase from the same period last year.
This surge in profitability is largely attributed to strong travel demand across all customer segments. The airline's dual-brand strategy, encompassing both Qantas and its low-cost subsidiary Jetstar, has been particularly effective. Jetstar experienced a 54% increase in domestic earnings, carrying a record number of passengers, with approximately one in three travelers paying less than $100 for their flights.
In response to this financial upturn, Qantas has announced its first dividend payment since 2019, comprising a fully franked base dividend of 16.5 cents per share and a special dividend of 9.9 cents per share, totaling $400 million. The airline is also investing in its fleet, with plans to refurbish 42 Boeing 737 aircraft, featuring next-generation business and economy seats and larger overhead lockers, to enhance the customer experience.
Qantas Group CEO Vanessa Hudson highlighted the benefits of the company's dual-brand approach and strong loyalty program, stating, "The Group’s performance highlights the benefits of having both a premium and a low fares airline and a strong loyalty program." She also emphasized the company's commitment to rebuilding trust and consistently delivering in key customer moments.
Looking ahead, Qantas anticipates continued strong travel demand, with plans to introduce seven new aircraft in the second half of the financial year, including the arrival of Qantas' first A321XLR. The airline is also preparing for the launch of its ultra long-haul Project Sunrise flights, expected to commence in 2027.
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