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Qantas crashes to $1.1b loss as vaccine offers ‘certainty’

Lucas BairdReporter

Key Points

  • Revenue ($m) 2330, down 75pc from the year-earlier 9464
  • Pretax profit ($m) -1321 v 777 
  • Net profit ($m) -1081 v 445
  • No interim dividend 

Qantas has swung to a statutory $1.1 billion interim loss as the COVID-19 pandemic further ravages travel demand and activity.

The airline reported a $445 million profit in the previous corresponding period. Revenue dived 75 per cent to $2.3 billion in the six months ended December 31.

State border closures hang over Qantas future forecasts. Steven Siewert

Qantas said it expected international travel to resume at the end of October.

“Our priorities remain the safety of everyone who travels with us, getting as many people back to work as possible and generating positive cash flow to repair the balance sheet,” chief executive Alan Joyce said.

“The COVID vaccine rollout in Australia will take time, but the fact it’s underway gives us more certainty.

Summary | 2 Annotations
statutory $1.1 billion interim loss
2021/02/25 01:17
resume at the end of October
2021/02/25 01:17