Regardless of whether travellers see Qantas’ $2.5 billion profit as rudely excessive, its boss Alan Joyce isn’t apologetic for his swansong result.
Qantas didn’t just better its profit record – it smashed it.Joyce has long been a divisive business leader, and the shareholders that see him as an aviation god will characterise this result as further evidence of his genius. At Thursday’s close of his last presentation to investors and analysts, he was farewelled with a rousing round of applause. His replacement, Vanessa Hudson, said the airline was “truly blessed you have been our leader”.
On the still-elevated level of flight cancellations, particularly out of Sydney, Joyce said weather and flight control issues were the culprits, not Qantas.And on claims that Qantas has been slow to deal with its bank of yet-unredeemed flight credits, Joyce said the airline was doing everything it could to encourage people to use them.
The company’s research found that twice as many people planned to travel domestically in the next year as before the pandemic, and 80 per cent more wanted to travel internationally.Spending intentions in the survey showed consumers intended to spend 31 per cent more on international travel and 26 per cent on domestic trips, but 22 per cent less on beauty, 18 per cent less on clothing and 16 per cent less on homewares.
And the aviation industry has been blessed with the public’s thirst for travel post-COVID after the pandemic era of lockdowns and closed borders.
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