Qantas says it will meet $2.4b profit forecast as capacity climbs
Qantas has signalled it is on track to meet its forecast FY23 profit of more than $2.4b as its capacity nears pre-pandemic levels. The Flying Kangaroo says its domestic capacity has reached pre-pandemic levels, while international capacity is “climbing towards” that mark, as the group predicts more than 4m passengers on Qantas and Jetstar services over the winter holidays. “Top domestic leisure destinations include the Gold Coast and Cairns, while new international routes including Sydney-Auckland-New York and Perth-Rome are heavily booked,” the airline said. “Travel demand remains strong and data shows that consumers continue to prioritise travel over other spending categories.” The national carrier says it has taken delivery of six new aircraft since the start of the calendar year, including Airbus A320neo planes for Jetstar and Boeing 787 Dreamliners for Qantas, as part of its major “Project Winton” fleet renewal program. In its guidance last month, Qantas said fuel prices, fares, and operational buffer costs are all moderating, with jet fuel prices “remaining elevated” but falling. Fares are declining from peaks seen in the first half of the financial year owing to the return of capacity, but yields are “expected to remain materially above pre-COVID levels” through the 2023–24 financial year, especially internationally.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-06-28/oneworld/qantas-says-it-will-meet-2-4b-profit-forecast-as-capacity-climbs
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Qantas says it will meet $2.4b profit forecast as capacity climbs
Qantas has signalled it is on track to meet its forecast FY23 profit of more than $2.4b as its capacity nears pre-pandemic levels. The Flying Kangaroo says its domestic capacity has reached pre-pandemic levels, while international capacity is “climbing towards” that mark, as the group predicts more than 4m passengers on Qantas and Jetstar services over the winter holidays. “Top domestic leisure destinations include the Gold Coast and Cairns, while new international routes including Sydney-Auckland-New York and Perth-Rome are heavily booked,” the airline said. “Travel demand remains strong and data shows that consumers continue to prioritise travel over other spending categories.” The national carrier says it has taken delivery of six new aircraft since the start of the calendar year, including Airbus A320neo planes for Jetstar and Boeing 787 Dreamliners for Qantas, as part of its major “Project Winton” fleet renewal program. In its guidance last month, Qantas said fuel prices, fares, and operational buffer costs are all moderating, with jet fuel prices “remaining elevated” but falling. Fares are declining from peaks seen in the first half of the financial year owing to the return of capacity, but yields are “expected to remain materially above pre-COVID levels” through the 2023–24 financial year, especially internationally.<br/>
