Qantas Group posts A$2.47bn profit in FY23

Qantas group posted an underlying profit of AU$$2.47 billion ($1.63b) for the twelve months ended June 30th, 2023 (FY23). In FY22, the Qantas group reported an underlying loss of AU$1.86 billion ($1.23b), and this year came close to doubling the 2019 financial year profit of AU$1.33 billion ($878m). This year marks the first full-year statutory profit since FY19, and since then the group has accumulated losses of more than AU$7 billion ($4.62b). Qantas said the profit was underpinned by its now completed AU$1 billion ($660m) recovery program introduced in the first of those loss-making three years. The group’s total revenue reached AU$19.8