Full Year 2024 Qantas Airways Ltd Earnings Call Transcript
Key Points
- Qantas Airways Ltd (QABSY) reported an underlying profit of $2.08 billion for the financial year 2024, with an underlying EPS of $0.88 per share.
- The company invested $230 million in customer experience improvements, leading to enhanced on-time performance and customer satisfaction.
- Qantas Airways Ltd (QABSY) saw a 20% increase in group ASK, driven by the addition of 16 new aircraft to the fleet.
- Jetstar Group achieved a record result with an underlying EBIT of $497 million, up 23% from the prior year.
- Qantas Loyalty delivered an underlying EBIT of $511 million, with strong growth in both membership and active member engagement.
- Statutory profit after tax was $1.25 billion, down $493 million from the prior year, impacted by one-off legal provisions and ACCC settlement.
- Qantas Domestic recorded a decline in EBIT by 16% to $1.06 billion, primarily due to increased customer investments and temporary inefficiencies.
- Qantas International's underlying EBIT fell to $556 million, driven by declining freight yields and moderating fare environment.
- The group's operating margin decreased to 10.4%, reflecting increased costs and investments.
- The company faces ongoing challenges in restoring trust and pride among customers and stakeholders, with significant work still needed.
Welcome to the 2024 Qantas full year results investor and analyst briefing. My name is Filip Kidon, and I'm the Head of Investor Relations for the Qantas Group. I'd like to begin today by acknowledging the traditional owners of the land on which we meet today, the Gadigal of the Eora Nation, and pay my respects to elders past and present,
I'll now hand over to Vanessa Hudson, our CEO, to take you through the results. Thank you.
Thanks, Fil, and good morning, everyone. Good morning to those online and also those that are here in the room. Thank you for joining us for what is the full year 2024 investor and analyst briefing. I'm joined here by Rob Marcolina, who is the Chief Financial Officer. He will assist me in talking through the results, but also, we have in the room Qantas Group leadership team. So let me just introduce you.
We have Stephanie Tully who is the CEO of Jetstar. We have Markus
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