After surprising observers last month by forecasting a return to profit by mid-2023, Qantas’s share price took off again yesterday after the company lifted its first-half profit forecast. The airline told investors it expects to post up to $1.45 billion in pre-tax profit during the July-December half – up $150 million from its October forecast. That’s due to the strong demand for air travel – particularly on domestic routes. And when you add whopping fuel costs, it’s seen some fares reach their highest level in 2 decades. Qantas said customers continue to “put a high priority on travel ahead of other spending categories”, but analysts say some will be priced out in the long term as cost of living pressures bite. With airfares set to stay among record highs for the first half of 2023, Qantas has promised to release more sale fares towards year’s end. There’s some holiday spirit…