Join our daily newsletter At The Bell to receive exclusive market insights
Qantas Airways Ltd (ASX:QAN) has reported a 11.2% rise in underlying profit after tax – to $1.39 billion – for the half year to 31 December 2024, on the basis of strong customer demand across the main brand and also Jetstar.
The company’s revenue for the period was also higher – by 9% – coming in at $12.13B, and while Qantas did not announce of pay any dividends during this period, the board said it would announce a base dividend of $250 million, paid out on the basis of an interim dividend of 16.5 cents per share (cps).
Growth in international operations meant that Qantas had a strong half year for passenger revenue, which grew 9%, while loyalty programs also continued to perform strongly.
A key focus for Qantas during the half year period was the upgrading of its fleet: with 16 aircraft delivered, including 6 new A321LRs, 2 new A320neos, 3 new A220-300s, 2 mid-life A319-100s and 3 mid-life Q400s.
Also added were 3 E190s brought online through Qantas’ wet lease arrangements with Alliance Airlines.
CEO Vanessa Hudson said these and other changes would provide a strong foundation going forward.
“Having a strong business means we can invest in our customers and our people, including our largest ever fleet renewal and cabin overhaul programs,” she said.
“Qantas and Jetstar made travel possible for more Australians, carrying 28 million customers, with around one third of Jetstar customers travelling for under $100 at a time of ongoing cost of living pressures.”
Qantas traded higher after this news, and by 16:23 AEDT, they were trading at $9.42 – a rise of 5.96% since the market opened.
Join the discussion: See what HotCopper users are saying about Qantas and be part of the conversations that move the markets.
