Qantas has delivered a $1.25bn half year profit under the reigns of its new CEO Vanessa Hudson.
The half yearly report ending December 31 stated its profits were down from $1.43bn in the previous corresponding period.
Statutory profit after tax was $869m, down 13.2 per cent, while the company recorded a net debt of $4bn.
The dip is on the back of the company spending more on fuel costs and investments.
Qantas launched its newest aircraft, the A220, which will be able to fly to every destination in Australia on Thursday.
It will also be ordering an extra eight A320s after already committing to 20 aircraft which will replace the 737s.
Ms Hudson said Qantas was continuing to work on making improvements based on the feedback the company had received from its customer base.
“We’re really proud of that result, it’s a really good result,” Ms Hudson said.
“Airfares have come down but we’re also investing in our customers.
“There’s a lot of work happening to lift our service levels and the early signs are really positive.
“Our customer satisfaction scores have bounced back strongly since December and we have more service and product improvements in the pipeline.
“Having the financial strength to keep investing is key, and that makes the strong performance that all business units had in the first half so important.”
“We understand the need for affordable air travel and fares have fallen more than 10 per cent since peaking in the late 2022.
“At the same time, we’ve seen a cost benefit from fewer cancellations and delays, and scale benefits as more international flying returns.
“Our people have been instrumental in the initial recovery we’re seeing and I thank them sincerely.”
Ms Hudson’s tenure came after former CEO Alan Joyce sensationally quit the role two months earlier than planned in September.
His resignation came after the airline carrier faced public backlash after allegations it sold tickets for “ghost flights” and lobbied the federal government to reject Qatar Airways’ bid to increase flights to Australia.
Ms Hudson said she has spent the last six months in her role as CEO hearing what customers have to say.
“I’ve done a lot more listening than talking,” Ms Hudson said.
‘In our aircraft, in our airports but also the in the investments we’re making to bring the breath of our customer into everything we do.
“I’ve been doing more acting than promising. I think that’s also really important.”
More to come.
