Qantas is soaring high with a solid financial performance, announcing an Underlying Profit Before Tax of $1.39 billion, up 11% from the previous year. Statutory Profit After Tax also climbed 6% to $923 million. This strong result is fueling major investments in new aircraft, cabin upgrades, and customer service enhancements.
A Winning Strategy: Premium and Low-Cost Brands
The airline’s dual-brand approach—Qantas for premium travelers and Jetstar for budget-conscious flyers—is paying off. Demand remains strong across both segments, with Qantas seeing robust corporate travel and Jetstar flying a record number of passengers, many snagging fares under $100.
Investing in the Future: New Planes and Upgraded Cabins
Qantas is in the midst of a major fleet renewal, receiving 11 new aircraft in the first half and expecting seven more by June. Jetstar’s expanding fleet of fuel-efficient Airbus A321LRs and A320neos is improving efficiency and customer satisfaction. Meanwhile, Qantas has begun phasing in A220 aircraft, though initial costs have outweighed benefits so far.
Big news on the cabin front: 42 Boeing 737s will get a full interior overhaul, featuring next-generation seats and larger overhead bins. This is part of a broader push to elevate the travel experience.
Loyalty, Customer Satisfaction, and Dividends Return
Qantas Loyalty continues to shine, with 17 million members and growing engagement. The introduction of Classic Plus reward seats has boosted redemptions, making it easier for members to use their points.
Customer satisfaction is on the rise, with Net Promoter Scores improving by 13 points for Qantas and 9 points for Jetstar. On-time performance is also getting better, with a 2-3 percentage point increase.
For the first time since 2019, shareholders will receive dividends, including a fully franked $250 million base dividend and a $150 million special dividend—a testament to the airline’s financial strength.
Looking Ahead
Despite challenges like rising costs and supply chain issues, Qantas remains optimistic. The airline expects continued strong travel demand, with more international capacity coming online and further investments in fleet and lounges.
CEO Vanessa Hudson summed it up best: “Having a strong business means we can invest in our customers, our people, and the future of Qantas.”
