Qantas sees huge loss as preparations begin for international restart

qantas sees huge loss as preparations begin for international restart

Sumary of Qantas sees huge loss as preparations begin for international restart:

  • Qantas has posted an AUS$2.6 billion (£1.2 billion) full-year loss for 2021 as a result of the Covid-19 crisis.
  • Periods of open domestic borders in the second half of the year saw significant cash generation by Qantas and Jetstar, which helped the group to reduce net debt from AUS$6.4 billion (£3.4 billion) in February down to AUS$5.9 billion (£3.1 billion) by the end of June.
  • Throughout the year, cash flow was underpinned by continued strong performance by Qantas Loyalty and significantly higher international yields for Qantas Freight.
  • Qantas Group chief executive, Alan Joyce, said: “This loss shows the impact that a full year of closed international borders and more than 330 days of domestic travel restrictions had on the national carrier.
  • This creates a range of potential travel options that Qantas and Jetstar are now preparing for.

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