Carrier “confident in the ability to invest in the business while rewarding shareholders”.
Qantas Group has this morning fleshed out its plans for investment, growth and sustainability in a wide-ranging strategy update.
The company expects strong improvement in margins from its Project Sunrise ultra long-haul project – estimated at $400 million in EBIT when all 12 A350s are in operation – and has also flagged improved earnings from its 787-9 fleet with possible new opportunities for non-stop flights to Seattle, Chicago and Paris.
Loyalty is also a strong focus going forward, with this part of the business targeting an $800m-$1 billion contribution to earnings by 2030.
QF will launch an overhauled app towards the end of 2023 giving customers more control over their bookings and introduce baggage tracking, while new boarding processes to be introduced in October will “improve on-time performance and better recognise tiered Frequent Flyers”.
In addition, the Qantas Group is launching a $400 million Climate Fund to accelerate progress towards sustainability targets, and is calling on the Australian Government to introduce a SAF blending mandate.
CEO Alan Joyce said “this is a structurally different business than it was before COVID, operating in markets that have also changed…we’re very well placed to take advantage of the opportunities that creates and the detail we’ve released today shows our strategy to do it”.
More details in today’s issue of Travel Daily.