The Omicron wave and depreciation have sent Qantas’s half-year result into a red-ink spiral EBIT loss of $1.13 billion but the airline sees tailwinds repairing its balance sheet.
The Qantas Group said its flying operations were severely impacted by widespread domestic lockdowns and continued international restrictions, reducing the Group’s total flying to 18 percent of pre-COVID levels during the half.
As a result of these severely depressed market conditions and ramp-up costs, the Qantas Group recorded an underlying EBITDA loss of $245 million for the first half of FY22. Underlying EBIT loss was $1.13 billion, reflecting non-cash depreciation and amortisation.
Revenue losses since read more ⇒