SYDNEY, Feb 23 — Australian airline Qantas said Thursday it bounced back into profit in late 2022, hailing a “huge turnaround” after swallowing massive losses throughout the...
SYDNEY, Feb 23 — Australian airline Qantas said Thursday it bounced back into profit in late 2022, hailing a “huge turnaround” after swallowing massive losses throughout the Covid-19 pandemic.
Chief executive Alan Joyce said surging demand for flights had boosted the company’s fortunes while announcing a plan to buy back A$500 million in Qantas shares. Qantas has been criticised by Australia’s transport union for sacking or standing down thousands of staff to keep a lid on costs at the height of the outbreak.
“When we restructured the business at the start of Covid, it was to make sure we could bounce back quickly when travel returned,” he said.
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