Now that travel restrictions hare eased Alan Joyce could borrow one of George Constanza famous lines in Seinfeld “We are back baby. We are back”. Qantas expects to be operating at 90-100 per cent of its pre-COVID domestic flight capacity by June with international traffic (resuming to Covid safe destinations) at 44%. However, there are…
Qantas half years results are in, and the outcome is again ugly. Qantas posted a $1.28 billion loss for the first 6 months of the 2022 financial year which is worse than the $1bn loss posted in the previous corresponding period. It is Qantas’ fourth consecutive half-year loss because of the Delta and Omicron Covid-19…
Read More Qantas announces $1.28 billion loss because of COVID
Qantas FY21 Financial Results Qantas’ 2021 Yearly Report is in, and the results were very ugly. Qantas reported a substantial (Underlying) loss of $1.83 million because of the COVID crisis. When you factor in their aircraft write-downs and redundancy costs Qantas actually made a statutory loss of $2.35 billion. Qantas ratios in particular profitability…
Qantas is no stranger to external shocks. It endured September 11, the GFC, Bali bombings, earthquakes, tsunamis, rising fuel costs etc. But according to Alan Joyce the coronavirus induced aviation crisis is like none before it. It’s the single biggest shock that global aviation had ever experienced. Will Qantas survive? The answer is yes. He…
Qantas like all other airlines around the world are reeling as containment measures tighten to halt the spread of the coronavirus. Two days after slashing international flights by 90 percent, Qantas has announced it will suspend overseas services altogether by the end of March. The tipping point for Qantas was the new requirement for anyone…
Read More Coronavirus hits Qantas even harder with 20,000 workers stood down
Qantas Half Yearly report is in and Qantas has once again delivered strong earnings. Qantas’ underlying profit before tax was $771m (down only $4m or 0.5 percent on the previous corresponding period). This was despite challenges from the external environment such as weaker demand (slowdown in the economy), disruption in Hong Kong, industrial action on…
Read More Qantas reports a great half year result but Coronaviruses looms to spoil the celebrations