(Adds details on outlook, buyback)
May 23 (Reuters) - Australia's flagship carrier Qantas Airways Ltd (QAN) said on Tuesday it was expecting to post underlying profit before tax of between A$2.43 billion and A$2.48 billion ($1.68 billion) for fiscal 2023, helped by continued strength in travel demand.
Qantas also raised its existing share buyback by up to A$100 million.
Flying activity increased in the second half as new aircraft and more wide body jets returned from long-term storage, the company said in a statement.
Jet fuel prices remain elevated but recent falls will deliver a cost improvement in the second half, Qantas said.
The airline posted an annual underlying loss before tax of A$1.86 billion in financial year 2022. It
swung
to a record first-half profit this year as appetite for travel grew.
($1 = 1.4743 Australian dollars)
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Last
$11.85 |
Change
0.070(0.59%) |
Mkt cap ! $17.93B | |||
| Open | High | Low | Value | Volume |
| $11.80 | $11.93 | $11.79 | $44.84M | 3.788M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1918 | $11.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.86 | 21792 | 1 |
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| QAN (ASX) Chart |