Australia s Qantas posts $820 million first-half loss, pushes back international travel target reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Australia s Qantas pushes back int l travel target as H1 revenue falls 75% Reuters 24/02/2021 By Jamie Freed
By Jamie Freed
SYDNEY (Reuters) - Qantas Airways Ltd said it had pushed back its target for a widespread resumption of international travel from Australia by four months until the end of October, when the country s vaccination programme is expected to conclude.
The airline grounded its international fleet last March and a domestic recovery has been hampered by state border closures, leading to a 75% fall in revenue to A$2.33 billion ($1.9 billion) in the six months to Dec. 31.
Qantas on Thursday said it swung to a A$1.03 billion first-half underlying loss before tax, its most closely watched financial measure, compared with a A$771 million profit a year earlier.
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Date lodged: 31 July 2020Status: CompletedOutcome: Granted with conditions on 29 January 2021SummaryOn 31 July 2020 Qantas Airways Limited (Qantas) & China Eastern Airlines Corporation Limited (China Eastern Airlines) and their related bodies corporate applied for revocation of conditional authorisations A91470 and A91474 and substitution for a new authorisation for similar conduct, administered through an Extended Joint Coordination Agreement until March 2022.
The Extended Joint Coordination Agreement would permit Qantas and China Eastern Airlines to continue their alliance and coordinate on operations between Australia and mainland China beyond 31 October 2020, when authorisations A91470 and A91474 are due to expire.
The applicants have requested that the new authorisation issue without conditions requiring the maintenance or growth of flight capacity during the authorisation period (which was a condition imposed by the ACCC in authorisations A91470 and A91
By Reuters Staff
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SYDNEY (Reuters) - Qantas Airways Ltd and BP PLC on Thursday announced a strategic partnership to reduce carbon emissions in the aviation sector in Australia as part of their goals to become carbon neutral companies by 2050.
The agreement, along with Air New Zealand Ltd on Thursday backing the New Zealand government’s decision to implement a biofuels mandate to cut carbon emissions in the transport sector, is a sign that the coronavirus pandemic has not killed long-term industry environmental goals.
Qantas and BP said they will jointly explore opportunities and projects in areas including advanced sustainable fuels, advocacy for further decarbonisation in the aviation sector, renewable power solutions and generation, carbon management and emerging technology.
Qantas Airways Ltd expects to run at 60% of pre-pandemic domestic capacity in the March quarter, below its previous forecast rate of nearly 80%, because of pandemic-related state border closings, its CEO said on Wednesday.