Alan Joyce AC
CEO Qantas AirwaysView FY20 CEO’s report (PDF)
Upgrade your web browser for an enhanced experience. Upgrade my browser.
The Qantas Group reported an underlying profit before tax for FY20 of $124 million.
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, announced in June, will enable the Group to create a stronger platform for future profitability, deliver long-term shareholder value and preserve as many jobs as possible.
More details are available in our Investor Centre.
In what has been the most challenging period in its 100-year history, the Qantas Group reported an Underlying Profit Before Tax of $124 million for FY20. This reflects a strong first half of the year ($771 million Underlying Profit) followed by a near total collapse in travel demand and a $4 billion drop in revenue in the second half as a result of COVID-19. On a statutory level, the Group reported a $2.7 billion Loss Before Tax – mostly due to asset impairments and one-off costs to restructure and right-size the business. The three-year recovery plan, announced in June 2020, will enable the Group to create a stronger platform for future profitability, deliver long-term shareholder value and preserve as many jobs as possible.View our FY20 full year overview
The Qantas Group reported an Underlying Profit Before Tax of $771 million for the first half of FY20. The Underlying result was $4 million less than the same time last year – despite $174 million in higher foreign exchange related costs, the impact from global freight weakness, disruption in Hong Kong and the impact on earnings as a result of the transfer of ownership of the domestic airport terminals to the airport operators. The Group met all the targets of its financial framework during the half, generating significant cash flow that allowed for ongoing investment as well as shareholder returns.View our 1H20 trading update