Qantas Airways (QAN) - Flying high
March 11, 2025
Qantas Airways provides air transportation services in Australia and internationally. The company operates through Qantas Domestic, Qantas International, Jetstar Group, and Qantas Loyalty segments.
The company reported first-half FY25 earnings broadly in-line with consensus expectations as travel demand remained firm across both domestic and overseas divisions. It also declared a special dividend on top of its interim dividend.
On the downside, Qantas forecast fuel costs to be around $200 million more than previous estimates, and notes wage inflation has risen. Post the results, we cut our forecasts to incorporate these factors. Nonetheless, Qantas offers an attractive investment option as recent external issues, such as court cases, fade away, and as management maintains strong operational performance. Furthermore, the return of dividends signals confidence in its prospects.
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