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.
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.Visit our 1H22 trading updateOpens 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