Delivering today

Qantas staff at Mascot head office

The Qantas Group reported an underlying loss before tax for FY22 of $1.86 billion.

The national carrier navigated through the worst impacts of the COVID-19 pandemic in FY22, with border closures and lockdowns associated with the Delta and Omicron suppressing travel for much of the year.

As restrictions eased in the fourth quarter, the Group saw a huge increase in forward travel demand, which when combined with the Group’s recovery plan has resulted in a significant improvement to the balance sheet.

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Financial results

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FY22 half year overview

The Qantas Group has reported an Underlying Loss Before Tax of $1.3 billion for 1H22 as a result of widespread domestic lockdowns and international restrictions which continued to impact the business. The Group’s focus on restructuring its cost base and repairing its balance sheet has positioned it to better weather ongoing disruptions during the recovery period. A key part of this balance sheet repair has been the sale of surplus land in Mascot, New South Wales, which contributed $754 million in net proceeds in the half.

The three-year recovery plan is tracking ahead of schedule delivering $840 million cost benefits by 1H22, enabling the Group to create a stronger platform for future profitability and growth, and deliver long-term shareholder value.

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FY22 full year overview

The Qantas Group reported an Underlying Loss Before Tax of $1.86 billion for FY22, a year which included the worst impacts of the pandemic with widespread Delta and Omicron lockdowns, but also the first signs of sustained recovery.

The reopening of borders in the fourth quarter saw a huge increase in forward travel demand, which when combined with the Group’s recovery plan resulted in a significant improvement to the balance sheet, including a reduction in net debt.

With the crisis posed by the pandemic now over, the Group is focused on getting Qantas back to its best for customers and its people and resuming capital returns to shareholders.

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FY22 Reporting

CEO and Chairman's reports

View FY22 CEO’s message (PDF) CEO Alan Joyce at Qantas head office

Alan Joyce AC

CEO Qantas Airways

View FY22 CEO’s message (PDF)
View FY22 Chairman’s message (PDF) Chairman Richard Goyder AO

Richard Goyder AO

Chairman Qantas Airways

View FY22 Chairman’s message (PDF)
Financial performance of the Qantas Group

Performance against our Financial Framework

The Qantas Group reports on a number of both statutory and underlying financial metrics in line with its Financial Framework.

Financial performance of the Qantas Group
Our strategic areas of focus

Performance against our Recovery Plan

How we’re delivering against our key areas of focus as we manage the ongoing impacts of the pandemic and build towards recovery.

Our strategic areas of focus
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2022 Sustainability Report

We’re committed to reporting transparently on key performance indicators including environmental, social and government metrics and initiatives.

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Investor Centre

For details of our historic performance including the 2022 Annual Report visit the Investor CentreOpens external site.