Australian News / 14 October 2022
Profits to take off like a flying kangaroo…
Qantas’s share price was up 8.7% following news that its business performance is really picking up. After being pretty much grounded during 2020-21 and making some big missteps in 2022, travellers have come back in droves. And despite the customer complaints and capacity remaining well below pre-COVID levels, boss Alan Joyce said that business customers’ revenue is back over 100% of pre-COVID levels, and holiday travel revenue is more than 130% of pre-COVID levels. That means travellers have put aside their grumbles and paid more to fly. Yesterday, Joyce said the negative feedback landed with management, and things are improving. He also said they’ve listened to unhappy staff who want better pay and conditions. Still, more industrial action is on the cards… For the 6 months ending 31 December, the airline’s profit should be between $1.2-1.3 billion – more than double that analysts forecasts.
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