Qantas staff windfall as airline announces biggest profit in 95 years
Qantas is to pay 25,000 staff a one-off AUD$3000 (£1,730) bonus after it made a profit of $1.53 billion (£882 million) for the year ended June 30, up 57% on the previous year.
It will pay out a further $500 million (£288 million) to shareholders
Chief executive Alan Joyce said the result – the best in its 95-year history – showed the airline’s transformation programme, which has led to $1.66 billion in permanent cost and revenue savings since 2014, was paying off.
The airline expects to save a further $2.1 billion over the next financial year.
"Transformation has made us a more agile business, created value for our shareholders and given us a platform to invest for the future," said Joyce.
"Qantas is stronger than ever, but we’re also determined to keep changing and adapting so that we can succeed no matter what environment we’re in."
The airline benefited from lower fuel prices, saving $664 million on the previous year, enabling it to cut ticket prices. The airline said its Australian fares were up to 40% lower than 10 years ago.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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