Qantas Profit Hit by Turbulence, Drops 28 Percent

Published on August 29, 2024

Australia’s national carrier recorded a 28 percent descent in profit to $1.25 billion after tax in the 2024 financial year. Since taking over from Alan Joyce, the former CEO of Qantas, Vanessa Hudson has focused on customer service amid a issues with the competition regulator. In contrast, Qantas subsidiary Jetstar recorded its best-ever result as demand for low fares rose during the year. Hudson said the “strong financial performance” would allow Qantas to continue to invest in their largest ever fleet renewal program. “Qantas benefited from increased corporate and resources travel and ongoing high demand for international premium seats, while Jetstar delivered its highest result as it grew to meet increased demand from price-sensitive leisure travellers and saw the benefits from its new aircraft,” she said....

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