QAN 0.63% $6.32 qantas airways limited

Feb 22 (Reuters) - Qantas Airways Ltd (QAN) : SEEING STRONG...

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    Feb 22 (Reuters) - Qantas Airways Ltd (QAN) :

    • SEEING STRONG TRAVEL DEMAND ACROSS PORTFOLIO
    • FY24 FUEL COST EXPECTED TO BE A$5.4 BILLION AT CURRENT FUEL PRICES, INCLUSIVE OF HEDGING.
    • FY24 NET CAPITAL EXPENDITURE IS EXPECTED TO BE $A3.0-3.2 BILLION
    • CAPITAL EXPENDITURE RISING IN FY25 TO BETWEEN A$3.7-3.9 BILLION
    • NET DEBT EXPECTED TO BE AT OR BELOW MIDDLE OF TARGET RANGE BY END OF FY24.
    • A FURTHER 14 AIRCRAFT ARE EXPECTED TO ARRIVE DURING 2H24
    • FY24 DEPRECIATION AND AMORTISATION EXPECTED TO BE $A1.8 BILLION.
    • TARGETING TRANSFORMATION INITIATIVES OF APPROXIMATELY A$400 MILLION IN FY24 TO OFFSET IMPACT OF CPI.
    • MANUFACTURING DELAYS HAVE IMPACTED DELIVERY DATES FOR FIRST A321XLR FOR QANTAS DOMESTIC BY THREE MONTHS TO EARLY-2025
    • UNIT REVENUE IS EXPECTED TO REMAIN STABLE FOR DOMESTIC AND CONTINUE TO NORMALISE FOR INTERNATIONAL IN FY24
    • QANTAS LOYALTY TARGETS A$800 MILLION-A$1 BILLION UNDERLYING EBIT BY FY30
    • MANUFACTURING DELAYS IMPACTED DELIVERY DATES FOR A350 FOR QANTAS INTERNATIONAL (AND PROJECT SUNRISE) BY SIX MONTHS TO MID-2026.
    • NET DEBT ROSE TO A$4.0 BILLION AT END OF DECEMBER 2023
    • TOOK DELIVERY OF EIGHT NEW AND MID-LIFE AIRCRAFT DURING 1H24 AS ITS FLEET RENEWAL PROGRAM RAMPS UP
    • FOUR ADDITIONAL MID-LIFE A319S HAVE BEEN PURCHASED FOR NETWORK AVIATION
    • 8 ADDITIONAL A321XLRS ON ORDER FOR QANTAS DOMESTIC
    • TRAVEL DEMAND REMAINS STRONG ACROSS ALL SECTORS, WITH LEISURE CONTINUING TO LEAD AND BUSINESS TRAVEL NOW APPROACHING PRE-COVID LEVELS
 
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