QANTAS Group’s budget carrier Jetstar has been singled out as having a “standout year” by Qantas CEO Vanessa Hudson.
The LCC achieved record FY results, driven largely by strong demand, capacity growth from new aircraft, transformation, operational improvements, and lower fuel costs, Hudson said.
Jetstar’s underlying EBITDA was the biggest mover, increasing by 55% on last year to $769 million, while revenue also enjoyed a healthy 16% boost to $5.71b.
For the 12 months to 30 Jun, Jetstar saw its capacity improve by 17% as well, driven primarily by a significant 23% growth in international seats.
Overall, Qantas Group delivered an impressive $1.6 billion statutory profit after tax for the latest financial year, improving significantly on the $1.25 billion recorded in the previous year (TD breaking news).
Revenue climbed from $21.93 billion to $23.82 billion year-on-year, while its loyalty division continued to be a strong performer, piling on 11% in revenue growth to $2.86 billion.
The number of Frequent Flyer members also grew from 16.4 million to 17.6 million.
Qantas used the reporting platform to announce that an extra 20 Airbus A321XLR aircraft have been ordered, which will include the debut of lie-flat business-class seats on its narrowbody aircraft.
The perennially delayed Project Sunrise has also been postponed again, with a previously stated early 2027 launch target now slated for Q4 of the same year.
The financial performance of Qantas was so strong that it announced a new employee share plan, which will see eligible non-executive employees receive $1,000 in the carrier’s shares on an annual basis, subject to the company’s financial performance.
A slew of future plans were detailed in the reporting as well, including further lounge development at SYD, AKL, and LAX, a greater investment in baggage solutions, enhancement of its first-class dining experiences, confirmed cabin refreshes for its A330s – first aircraft into service from Feb next year and then Jetstar B787s from 26 Apr – as well as a new Qantas website with AI assistant.
For the next seven days, members who book any Qantas flight can earn either double status credits or Qantas pts. AB
