Qantas Airways Ltd (ASX:QAN)
A$ 6.07 -0.04 (-0.65%) Market Cap: 9.89 Bil Enterprise Value: 14.27 Bil PE Ratio: 6.62 PB Ratio: 85.50 GF Score: 71/100
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Qantas Airways Ltd Market Update Transcript

May 19, 2021 / 11:30PM GMT
Release Date Price: A$4.52 (-1.74%)
Alan Joseph Joyce
Qantas Airways Limited - CEO, MD & Executive Director

Thanks, Amanda, and good morning, everyone, and thanks for joining us on the call today. First, I'd like to make a few brief comments related to the statements we've lodged with the ASX this morning, then Vanessa and I will be happy to take your questions.

Since we last spoke, we have seen momentum build in the domestic market. Combined with the continued strong performances from Loyalty and Freight, the group is starting to turn the corner. But we do have a long way to go and our focus on the recovery plan to fundamentally restructure our cost base continues. We remain on track to deliver the $600 million in cost savings for financial year '21, and we are well positioned to deliver a total of $1 billion in ongoing savings from financial year 2020.

Today, we're also announcing several initiatives to solidify our recovery. These include: a 2-year wage freeze for all employees, changes that will reduce our cost of sales and distribution, and an additional voluntary redundancy program for Qantas International

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