June 24 (Reuters) - Qantas Airways Ltd (QAN) :
- ALSO ON TRACK TO RETURN TO UNDERLYING PROFIT IN FY23
- COST OF RECOVERY BOOST TO GROUP IS ESTIMATED AT AROUND A$87 MILLION IN FY22
- DOMESTIC CAPACITY REDUCTIONS TO HELP RECOVER HIGHER FUEL PRICES; NO CHANGE TO INTERNATIONAL
- EXPECTATION OF UNDERLYING EBITDA FOR 2H22 OF A$450-550 MILLION UNCHANGED
- GROUP IS ALSO ON TRACK TO RETURN TO UNDERLYING PROFIT IN FY23.
- NET DEBT IS EXPECTED TO FALL TO AROUND A$4.0 BILLION BY 30 JUNE 2022
- FOR JULY AND AUGUST, AN ADDITIONAL 5 PERCENTAGE POINTS OF CAPACITY WILL BE REMOVED ON TOP OF 10 PER CENT ANNOUNCED IN MAY
- THIS TOTAL 15 PER CENT CUT WILL ALSO BE APPLIED TO SEPTEMBER
- CUT OF 10 PERCENTAGE POINTS WILL BE APPLIED TO SCHEDULES FROM OCTOBER THROUGH TO END OF MARCH 2023
- GROUP'S PLANNED DOMESTIC FLYING DOWN TO 106 OF PRE-COVID LEVELS FOR Q2 OF FY23 AND 110 PER CENT FOR Q3
- JETSTAR CEO GARETH EVANS HAS MADE DECISION TO STEP DOWN FROM HIS CURRENT ROLE IN DECEMBER 2022
- INTERNAL RECRUITMENT PROCESS FOR JETSTAR CEO ROLE IS UNDERWAY, WITH A HANDOVER OF SEVERAL MONTHS EXPECTED
- GARETH WILL REMAIN WITH GROUP INTO NEXT YEAR TO WORK ON KEY PROJECTS BEFORE LEAVING DURING 2023
- NO CHANGES TO GROUP'S INTERNATIONAL CAPACITY PLANS
News: QAN Qantas Says On Track To Return To Profitability In FY23
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