The Qantas Group has reported robust earnings for FY24, achieving an underlying profit before tax of AU$2.08 billion and a statutory profit after tax of AU$1.25 billion for the year ending 30 June 2024. Although overall earnings were lower than the previous year due to moderated fares, increased customer initiative spending, and a decline in freight revenue, the Group's Domestic unit revenue gained momentum in the second half of the year.
Qantas and Jetstar experienced significant improvements in operational performance and customer satisfaction, driven by investments in operations, enhanced food and beverage offerings, and an overhaul of Qantas' digital platforms. The Group also expanded its fleet, adding 11 new aircraft, including Jetstar's Airbus A321neo long-range and QantasLink's A220s, contributing to a capital expenditure increase of AU$3.1 billion and delivering benefits in operating costs, network flexibility, passenger comfort, and emissions reduction.
In recognition of employees' contributions, Qantas awarded 23,000 non-executive staff with a AU$500 travel voucher, in addition to a similar voucher provided earlier in the year, totalling AU$1,000 for FY24. Looking ahead, the Group remains optimistic, with stable bookings and strong travel demand across all flying brands, supported by positive revenue trends.
CEO Vanessa Hudson emphasised the strength of Qantas' integrated portfolio, highlighting the benefits of increased corporate travel, high demand for international premium seats, and Jetstar's record results. Hudson also noted that the Group's financial strength will support ongoing investments in fleet renewal, benefiting customers, employees, and shareholders, as Australians continue to prioritise travel. She thanked Qantas employees for their dedication and commitment to delivering excellent customer service.
