Qantas has posted a record underlying profit of $2.465bn, after a doubling of revenue and cutting costs in a massive turnaround for the under fire airline
- Qantas delivers $2.465billion profit
- Alan Joyce delivered last results as CEO
Qantas has delivered a $2.5billion profit only a year after suffering a deep loss with Alan Joyce delivering his last financial result as chief executive.
The full-year underlying profit before tax of $2.465billion marked a major turnaround from a $1.9 billion loss for 2021-22 covering a period before Australia reopened its borders to international travellers.
Revenue doubled to $19.8billion, up from $9.1billion, and surpassing the $17.97billion level of 2018-19, before the pandemic.
Mr Joyce, whose 15-year run heading Qantas ends in November, has been a prominent supporter of the Yes case for an Indigenous Voice to Parliament and before that, campaigned for gay marriage in 2017.
‘This is my last full year results as Qantas Group CEO,’ he said.
‘It’s been extremely challenging – but I’m pleased to say that the future of the national carrier is on very solid ground. Safety and reliability remain core.’
Mr Joyce, who hands over to chief financial officer Vanessa Hudson in three months’ time, boasted: ‘Our balance sheet is the strongest it’s been in decades.’
Qantas has enjoyed a big turnaround delivered a $2.465billion profit with Alan Joyce delivering his last results as chief executive.
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