Qantas makes more than $1.5 billion profit

Author: John Weekes,
Publish Date: Thu, 27 Aug 2026, 2:49pm

Qantas has today announced its final results for the financial year. Photo / David Gray, AFP

Qantas made a more than $1.5 billion profit despite facing pressures from the Middle East conflict.

The airline group’s results for the year to June 30 show it made a A$1.289b ($1.555b) statutory profit after tax.

That was down 19.7% on the previous year.

The group, including Jetstar, carried 8.913 million international passengers in the year, up from 8.379 million.

Revenue of A$25.5b was up 7.1%.

It said the Middle East conflict and associated impact on fuel prices had cost it A$420 million during the financial year.

New suite

The airline today unveiled a new business class suite for its Airbus A321XLR fleet.

Renderings of the new A321XLR business class suite. Photo / Supplied

It said that would bring a lie-flat bed to Qantas narrowbody aircraft for the first time.

The company said it was carrying out the biggest fleet renewal in its history.

Qantas said the group received 17 new aircraft in the last financial year and expected up to 31 more this year.

The airline group said its Qantas Frequent Flyer scheme grew to nearly 19 million members.

The company also said today that it had opened the new Emergency Procedures Training Centre (EPTC) in Sydney, part of a A$100m investment in pilot and cabin crew training facilities.

Qantas chief executive Vanessa Hudson said 25,000 employees would get A$1000 of Qantas shares through the airline’s employee ownership plan.

Hudson said the fuel bill would have been A$610m higher than expected.

She said capacity and fare adjustments ameliorated that.

Qantas in April blamed jet fuel price volatility for fare hikes and capacity changes.

In an April trading update it said it had hedged about 90% of its second-half exposure in crude oil but was exposed to movements in jet fuel refining margins.

The airline at that time said there was strong demand for flights to Europe, so it increased services to Paris and Rome, and cut some domestic services.

But the following month it said that its biggest-ever investment in New Zealand was happening.

Since the financial year ended, Qantas had conducted its first Project Sunrise test flight from France to Australia.

The specially configured Airbus A350-1000ULR landed in Melbourne after a 19-hour flight.

“Demand for long-haul routes and premium cabins continues to grow, as does our confidence in Project Sunrise,” Hudson said today.

In other events during the financial year, the airline group closed Jetstar Asia.

It redeployed seven of that carrier’s aircraft to Jetstar Australia and New Zealand.

Air New Zealand’s annual result is due to be published tomorrow.