Half Year 2026 Qantas Airways Ltd Earnings Call Transcript
Key Points
- Qantas Airways Ltd (QABSY) reported a 71 million increase in underlying profit before tax compared to the previous year.
- The company announced a fully franked base dividend of $300 million, an increase of $50 million, and a non-market share buyback of up to $150 million.
- Strong demand for travel across Australia and internationally has been a key driver of performance.
- The fleet renewal program is progressing well, with significant investments leading to improved financial performance, customer experience, and emissions reduction.
- Qantas Loyalty program continues to grow, with a 12% increase in underlying EBIT and membership exceeding 18 million members.
- Qantas International's underlying EBIT was impacted by 6% due to cost escalations, including higher engineering and operational wages.
- The company faces ongoing challenges with higher airport security and navigation charges escalating above inflation rates.
- Unfavorable foreign exchange movements impacted profit by 76 million during the period.
- The entry into service and fleet-related transitionary costs are expected to increase by 20 million in the second half of the year.
- Qantas International's capacity growth is challenged by the need to manage costs and demand fluctuations, particularly in the leisure segment.
The conference is now being recorded.
Good morning and welcome to the first half of financial year 2026.
Investor and analyst results briefing.
My name is Phillip Kiddon, I'm the group head of investor relations at the Qantas Group.
I'd like to now hand over to our Chief Executive Officer, Vanessa Hudson to take you through the results.
Thank you, Phil, and good morning to everyone. Thanks for joining us today at the Qantas Group H Year 2026 investor and analyst briefing. I'm joined by Rob Marcolina, our CFO who will be assisting me in presenting the results today, but I'm also joined by our entire leadership team.
Today's briefing will only be in audio format, and Rob and I will take you through a number of the key slides in our materials that we lodged today, but then we will open to questions.
We will start on slide 4 of our presentation with
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