Qantas Reports Increased Profits and Rising Shares Due to Strong Travel Demand in Australia
Qantas Annual Profit Increase: Qantas reported a 15% increase in underlying pre-tax profit to A$2.39 billion, driven by a strong rebound in domestic travel post-pandemic and higher fare expectations for the upcoming financial year.
Shareholder Returns and Dividends: The airline declared its highest total dividend payout in 17 years, including a final dividend of 16.5 cents per share and an additional special dividend of 9.9 cents.
CEO's Challenges and Commitment: CEO Vanessa Hudson, who took over in 2023, is focused on balancing shareholder returns while rebuilding trust with consumers and addressing regulatory issues following past scandals.
Fleet Expansion Plans: Qantas has ordered 20 additional Airbus A321XLR aircraft as part of its ongoing fleet renewal strategy, reflecting the growing demand for both domestic and international flights.
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