..please return passenger travel credits ($1B) as well as taxpayers money for Jobkeeper (>$800m),...making money at the expense of others isn't cool. We should let our views known...
..the courts would take this into account in the class action- you can spend half a billion dollars doing buybacks yet have no qualms holding back your passengers' money putting them through so much stress trying to even get through. Qantas adds $500m buyback, posts record profit Ayesha de KretserSenior reporter
Aug 24, 2023 – 9.15am
KEY POINTS
Why it matters: Qantas reported a record annual profit and will buy back $500 million of shares.
The airline is under pressure to justify its margins, which exceed pre-COVID levels.
Qantas delivered a record annual profit and will return a further $500 million to shareholders, as pressure mounts on the airline to justify its robust profit margins, which exceed pre-pandemic flying levels.
The country’s biggest airline reported underlying net profit of $2.47 billion and announced an on-market buyback starting next month, expanding on the $1 billion in returns it made to shareholders over the 2023 financial year when it bought back shares at an average price of $6.19.
