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Qantas’ underlying profit in the last six months was $1.2 billion, down 13 per cent, largely due to falling airfares.
Qantas’ net debt is $4 billion but will rise in the next 12 months as the airline speeds up its fleet renewal.
The company pays no company tax and is working off $7 billion of losses during the COVID years meaning there is no dividend.
Qantas instead announced a further $400 billion share buyback.
“Airfares in the last period have come down by ten per cent across the board, across both Qantas and Jetstar, domestic and also international,” Qantas CEO Vanessa Hudson told Sky News Business Editor Ross Greenwood.
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