Qantas provides industry update

Qantas has reported an improving operational picture for the airline group.  The airline points to the strong demand for domestic across all categories. However, high fuel costs have required the group to “rebalance capacity and fares in response”. The group has cut domestic flying levels for July and August with capacity moving from 107% of pre-COVID levels to 103%. Qantas reports that group international flights continues to see strong demand as more countries relax restrictions. Group International capacity remains unchanged at just under 50% of pre-COVID levels by the end of the fourth quarter of FY22 and rising to around 70%