Shares are set to open higher; Biden-McCarthy debt ceiling meeting ends with no deal; Turners reports 13pc boost to revenue; 29Metals updates production guidance for its Capricorn mine.
is forecasting a record underlying pre-tax profit of up to $2.48 billion in the 2023 financial year – almost $1 billion higher than its next best result in 2018 – and will pour a further $100 million into buying back its own shares.
In a quarterly update this morning, the airline said flying activity was increasing steadily and would be at 93 per cent of pre-COVID levels by the end of December as forward bookings continued to “indicate strong travel demand”. Outgoing chief executive Alan Joyce, who will leave the carrier in November and be succeeded by chief financial officer Vanessa Hudson, said fuel prices were normalising and would help “put downward pressure on airfares”.
However, he warned of a continuing “mismatch between supply and demand that’s likely to persist for some time, especially in international flying”. This should mean airfares remain elevated on overseas routes. The airline told investors “yields are expected to remain materially above pre-COVID-19 levels through financial year 2024”.
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