News: QAN Qantas Airways Says Underlying EBITDA For 2H22 Expected To Be A$450-A$550 Mln

May 2 (Reuters) - Qantas Airways Ltd (QAN) :

• QANTAS GROUP TRADING UPDATE - THIRD QUARTER FY22-QAN.AX
• UNDERLYING EBITDA FOR 2H22 EXPECTED TO BE A$450-A$550 MILLION
• REDUCTION IN NET DEBT TO BELOW PRE-COVID LEVELS AT A$4.5 BILLION BY END APRIL 2022
• DOMESTIC TRAVEL RETURNING TO PRE-COVID LEVELS AHEAD OF EXPECTATIONS
• CAPITAL EXPENDITURE FORECAST FOR FY23 IS UNCHANGED AT $A2.3 - A$2.4 BILLION
• GROUP DOMESTIC IS EXPECTED TO BE EBIT POSITIVE IN 4Q22
• REBOUND IN TRAVEL FOR BUSINESS PURPOSES HAS BEEN ABOVE EXPECTATIONS
• NET DEBT IS PROJECTED TO REACH BOTTOM OF GROUP'S TARGET RANGE BY END OF FY22
• GROUP'S OVERALL DOMESTIC MARKET SHARE INCREASED AND IS EXPECTED TO BE 70 PER CENT BETWEEN TWO MAIN COMPETITORS
• GROUP STILL EXPECTS TO POST A SIGNIFICANT FULL YEAR UNDERLYING EBIT LOSS FOR FY22
• WILL ORDER 12 AIRBUS A350-1000S TO OPERATE PROJECT SUNRISE
• CURRENT TRAJECTORY SUPPORTS GROUP RETURNING TO PROFITABILITY IN FY23
• NINETY PER CENT OF GROUP'S FUEL NEEDS ARE HEDGED FOR SECOND HALF OF FY22 AT LEVELS BELOW CURRENT PRICES
• JETSTAR IS ON TRACK TO TAKE DELIVERY OF 18 AIRBUS A321LRS FROM JULY 2022
• GROUP DOMESTIC CAPACITY IS EXPECTED TO BE 105 PER CENT OF PRE-COVID LEVELS IN Q4 OF FY22
• GROUP INTERNATIONAL CAPACITY IS EXPECTED TO BE JUST UNDER 50 PER CENT BY END OF Q4
• GROUP INTERNATIONAL CAPACITY IS EXPECTED TO RISE TO AROUND 70 PER CENT FOR Q1 OF FY23
• WILL TAKE DELIVERY OF 20 AIRBUS A321XLRS FROM FY25 AND 20 A220S FROM FY24
• EXPECTS TO TAKE DELIVERY OF ITS THREE REMAINING BOEING 787-9S IN SECOND HALF OF FY23
• HAVE OVER 2,500 ROLES TO FILL OVER NEXT 12 MONTHS
• KEY ROUTES LIKE LONDON, LOS ANGELES AND JOHANNESBURG PERFORMING ABOVE PRE-COVID LEVELS
• EARLY SIGNS ON NEWEST DIRECT ROUTES TO INDIA, EUROPE AND KOREA ARE VERY POSITIVE
• LOYALTY'S UNDERLYING EBIT IS EXPECTED TO APPROXIMATELY DOUBLE FROM QUARTER THREE TO QUARTER FOUR