Oddbean

Qantas profits descend as fares fall after Covid ========== Qantas reported a 28% drop in net profit to Aus$1.25 billion ($US48 billion) for the fiscal year ending June 30, 2024; revenue increased by 10.7% to Aus$21.9 billion; lower fares due to expanded market capacity post-Covid and reduced freight revenue contributed to profit decline; CEO Vanessa Hudson emphasized restoring trust and pride in Qantas; the airline plans to give Aus$500 travel vouchers to 23,000 non-executive employees; Qantas aims to invest in its largest fleet ever; the airline faced criticism for high ticket prices and service issues during Alan Joyce's tenure. #Qantas #Profits #Airline #Australia #Covid #VanessaHudson #AlanJoyce #Travel #Economy #Business https://www.legit.ng/business-economy/economy/1610890-qantas-profits-descend-fares-fall-covid/