The Qantas Group has reported an underlying profit before tax of AUD2,06 billion (R23,6 billion) for FY26, down $330 million (R3,7 billion) on the previous year.
Profit before tax fell to AUD1,2 billion (R13,7 billion), down AUD316 million (R3,6 billion) from the previous year, after the nett impact of Middle East conflict cost the airline AUD420 million (R4,8 billion) and its fuel bill increased by AUD610 million (R7 billion).
“This year was defined by two different operating environments as a result of the conflict. In the first half, Qantas and Jetstar were both performing strongly, with demand growing across the domestic and international networks.
“The final four months of the year saw business and consumer confidence fall as the conflict and economic headwinds created uncertainty. In response to the surge in fuel prices, we adjusted fares and capacity,” said Qantas Group CEO, Vanessa Hudson.
International demand across Qantas and Jetstar remains strong, supported by passengers redirecting travel away from the Middle East.
However, the group anticipates that jet fuel prices will remain elevated in the first half of 2027 and will continue to take mitigating action while remaining highly hedged in Brent crude oil.
