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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
Investment
2 mins to read

Qantas profits fall as margins are squeezed

The profit fall was expected after a record 2023, and the airline says it still has work to do to rebuild its brand.

Profits at Qantas domestic and international were lower, while Jetstar reported a record result.

Key points
  • Revenue: up 10.7% to A$21.9b
  • Statutory profit after tax: down 28% to A$1.25b
  • Main takeaway: A solid result after a record year in 2023. Outlook for 2025 is modest. 

Full-year net profit at Qantas Airways fell 28% to A$1.25 billion ($1.35b) for 2024 despite a healthy 10.7% increase in revenue, as margins were squeezed and airfares moderated as capacity returned to the wider market.

The Qantas international and domestic businesses were hardest hit, with earnings

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Lachlan Colquhoun Thu, 29 Aug 2024
Contact the Writer: lachlan@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Key points
  • Revenue: up 10.7% to A$21.9b
  • Statutory profit after tax: down 28% to A$1.25b
  • Main takeaway: A solid result after a record year in 2023. Outlook for 2025 is modest. 
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Qantas profits fall as margins are squeezed
Investment,
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true