ACCC: Qantas, Rex, and Virgin Australia head for profits in FY22-23

The Australian Competition and Consumer Commission (ACCC) has predicted a profitable financial year for three major airline groups in Australia with domestic airfares soaring above pre-pandemic level and robust routes expansion adopted by the airlines. The quarterly report showed a 27% rise in average revenue per passenger as compared to October 2019. Anna Brakey, Commissioner, ACCC, said: “Airfares have risen due to strong demand for travel and constrained supply as airlines have scaled back their schedules in response to high jet fuel costs and operational challenges. The report also threw light on how the discounted economy fares have increased the