Including that additional buyback, Qantas expects to end the financial year on June 30 with a net debt of between $2.7b and $2.9b, down from a peak of $6.4b at the height of the pandemic. Qantas said its $500m share buy-back announced in February was three-quarters complete and it would spend another $100m on the program. 'That's combining with lower fuel prices to help put downward pressure on fares, which is good news for customers.' 'More parts of the aviation supply chain are returning to normal, which means we're able to put some of the spare aircraft and crew we kept in reserve back in the schedule,' chief executive Alan Joyce said in a statement. Qantas said it expects to make a 2022/23 underlying profit before tax of between $2.425 billion and $2.475 billion, significantly outstripping previous records but broadly in line with guidance and consensus expectations.Īn A380 Qantas mothballed at Victorville Airport in California's Mojave desert will return to service by year-end after maintenance and cabin modifications, while two Airbus A330s will be leased from Finnair.įinland's flag carrier will operate the routes on Qantas' behalf from October until late 2025 between Sydney and Singapore and, from late March, from Sydney and Bangkok. The airline's international capacity is at 84 per cent of pre-COVID levels and will reach 100 per cent by March. Qantas CEO Alan Joyce says the aviation supply chain is returning to normal
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