Delivering today

The Qantas Group delivered strong earnings in FY24 while investing in customers, new aircraft, benefits for employees and returns for shareholders.

The Group achieved an Underlying Profit Before Tax of $2.08 billion and a Statutory Profit After Tax of $1.25 billion for the year ending 30 June 2024.

Overall earnings reduced compared to last year as fares moderated with the return of market capacity, spending on customer initiatives increased and freight revenue reduced predominantly in the first half.

Group Domestic unit revenue provided positive momentum in the second half, increasing on 2H23 levels.

Qantas and Jetstar saw significant improvements in operational performance and customer satisfaction across the year, driven by investments in their operations, enhanced food and beverage, an overhaul of Qantas’ digital platforms and increased availability of frequent flyer seats.

The Group’s fleet renewal continued with 11 new aircraft arriving during the year, including five Jetstar Airbus A321neo Long Range aircraft and two QantasLink A220s, as capital expenditure increased to $3.1 billion.

The new fleet provide improvements in operating cost, network flexibility, passenger comfort and emissions.

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Financial results

FY24 full year overview

The Qantas Group delivered strong earnings in FY24 while investing in customers, new aircraft, benefits for employees and returns for shareholders.

The Group achieved an Underlying Profit Before Tax of $2.08 billion and a Statutory Profit After Tax of $1.25 billion for the year ending 30 June 2024.

The result demonstrated the underlying strength of the Group’s integrated portfolio.

Qantas benefited from increased corporate and resources travel as well as ongoing high demand for international premium seats. Jetstar delivered its highest result as it grew to meet increased demand from price-sensitive leisure travellers and saw the benefits from its new aircraft.

The introduction of Classic Plus, with millions of frequent flyer seats, helped drive member engagement and strong earnings for Qantas Loyalty.

Visit our FY24 full year overview

FY24 half year overview

The Qantas Group reported a $1.25 billion Underlying Profit Before Tax for the first half of FY24, down 13 per cent on the previous corresponding period.

The result was driven by lower fares as capacity continues to normalise and a decline in freight yields.

This was mostly offset by revenue from increased flying, which was up by 25 per cent, with the Group carrying 3.3 million more passengers compared with 1H23.

The Group continues to reinvest heavily in customers, revealing its new Airbus A220 interiors and announcing an accelerated rollout of Wi-Fi on international flights and a major upgrade to digital platforms.

Visit our 1H24 overview