Alan Joyce AC
CEO Qantas AirwaysView FY21 CEO’s message (PDF)
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The Qantas Group reported an underlying loss before tax for FY21 of $1.8 billion.
The Qantas Group has taken a range of measures to mitigate the financial impact resulting from the COVID-19 crisis and associated travel restrictions.
The three-year recovery plan is on track and will enable the Group to create a stronger platform for future profitability and growth, and deliver long-term shareholder value.
More details are available in our Investor CentreOpens external site in a new window.
For details of our historical performance including the 2021 Annual Report visit the Investor CentreOpens external site in a new window.
In what has been the most challenging period in its 100-year history, the Qantas Group reported an Underlying Loss Before Tax of $1.8 billion for FY21, but is in a fundamentally better position to deal with uncertainty and manage its recovery compared with 12 months ago. Periods of open domestic borders in the second half of FY21 saw significant cash generation by Qantas and Jetstar which helped to reduce net debt. Announced in June 2020, the three-year recovery plan is enabling the Group to create a stronger platform for future profitability and growth, and deliver long-term shareholder value.Visit our FY21 full year overviewOpens external site in a new window
The Qantas Group reported a Statutory Loss Before Tax of $1.5 billion as it continued to navigate the impacts of the COVID-19 pandemic and position the company for recovery and Balance Sheet repair. For the first half of FY21, the Group limited a $7 billion reduction in revenue to an Underlying Loss Before Tax of $1.0 billion as it focused on restructuring and the restart of the domestic operation.
Despite the setbacks of the first half, the Group’s liquidity, position in the domestic market and progress towards restructuring gives confidence that the overall recovery plan remains on track. This is bolstered by the latest data on vaccine effectiveness and the increased pace of rollout globally.