QANTAS GROUP RETURNS TO PROFIT

After three years and $7 billion in statutory losses due to the pandemic, the Qantas Group has returned to profit with a record result for the first half of FY23. 

The Group earned $1.43 billion underlying profit before tax to 31 December 2022, which is 49 per cent higher than the prior first half record result achieved in FY18. 

Statutory profit after tax was $1 billion. 

Qantas reported the drivers of this result were consistently strong travel demand, higher yields and cost improvements from the Group’s $1 billion recovery program that is nearing completion.

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*Source: Destination NSW