Qantas Airways (ASX:QAN) has reported its second-largest profit on record, with underlying earnings of A$2.39 billion for the year, up 15% on the prior period. The result was only marginally below the record A$2.46 billion posted in 2023.
Statutory profit after tax rose 28% to A$1.6 billion, compared with A$1.25 billion a year earlier. Passenger revenue increased to A$20.4 billion, up from A$18.9 billion, with Qantas Domestic again the group’s strongest performer, contributing A$1 billion in underlying earnings.
Jetstar posted a sharp jump in profitability, delivering A$769 million, up from A$497 million. Qantas International earnings improved to A$596 million from A$556 million, while Qantas Loyalty reported a more modest increase to A$556 million, up from A$511 million.
Shares in Qantas (ASX: QAN) are currently trading at A$12.07, after earlier reaching an intraday record high of A$12.62. The company is tracking towards its highest finish on record.