SYDNEY, Feb 23 – Australian airline Qantas on Thursday reported a record $1.4 billion Australian (US$950 million) in underlying profit before tax for the first half of the financial year 2023 amid strong travel demand, reported German Press Agency (dpa).
The number compares with a US$1.3 billion loss posted for the same time last year and was 49 per cent higher than the prior first half record result achieved in FY18.
It also comes after the group saw US$$7 billion in statutory losses across three years of coronavirus pandemic.
“This is a huge turnaround considering the massive losses we were facing just 12 months ago,” Qantas Group chief executive officer Alan Joyce said.
“When we restructured the business at the start of COVID, it was to make sure we could bounce back quickly when travel returned. That’s effectively what’s happened, but it’s the strength of the demand that has driven such a strong result,” he said.