News dalla rete ITA

25 Febbraio 2021

Australia

QANTAS CRASHES TO $1.1B LOSS AS VACCINE OFFERS ‘CERTAINTY’

Qantas has swung to a statutory $1.1 billion interim loss as the COVID-19 pandemic further ravages travel demand and activity. The airline reported a $445 million profit in the previous corresponding period. Revenue dived 75 per cent to $2.3 billion in the six months ended December 31. Qantas said it expected international travel to resume at the end of October. “Our priorities remain the safety of everyone who travels with us, getting as many people back to work as possible and generating positive cash flow to repair the balance sheet,” chief executive Alan Joyce said. “The COVID vaccine rollout in Australia will take time, but the fact it’s underway gives us more certainty. “More certainty that domestic borders can stay open because frontline and quarantine workers will be vaccinated in a matter of weeks. “And more certainty that international borders can open when the nationwide rollout is effectively complete by the end of October.” Qantas said the restructuring efforts aimed at saving it $1 billion a year from the 2023 financial year remained on track. At least 8500 people will leave the airline under the plan – many of the cuts have already been announced – and Qantas is looking to consolidate its property footprint. The airline reckons it will get to 60 per cent of pre-COVID-19 domestic capacity by September, and 80 per cent by the end of 2021. However, the financial impacts of state border closures will continue to hang over Qantas in the second-half of the financial year. “Impact of domestic border closures since December 2020 on second-half earnings before interest, tax, depreciation and amortisation is estimated to be [about] $350 million - $450m (exacerbated by coinciding with peak travel period),” it said.   (ICE SYDNEY)


Fonte notizia: AFR