Qantas ups interim earnings guidance


Qantas has raised its interim profit outlook for the first half of the financial year, due to strong travel demand.

The national carrier now expects underlying pretax profit of between $1.35 billion and $1.45 billion for the first half of fiscal 2023.

It had previously forecast underlying profit to be between $1.2 billion and $1.3 billion.

“Consumers continue to place a high priority on travel over other spending categories,” Qantas said in a statement to the Australian Stock Exchange on Wednesday.

“There are signs that international capacity limits are driving domestic demand for leisure, which is benefiting Australian tourism.”

At the same time, fuel costs are still high and are expected to cost the airline $5 billion in fiscal 2023.

If it goes as planned, it would be a record for the Qantas Group.

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