Qantas Group provides Q3 FY2022 trading update

The Qantas Group has released its trading update for Q3 FY2022. The Company noted revenue growth during the quarter which supported in reducing its debt from AU$5.5 billion at 31 December 2021 to AU$4.5 billion by the end of April 2022.

The Company expects that the net debt would reach bottom of the Group’s target range by FY2022 end. Further, the Group anticipates to post a major full year Underlying EBIT loss for FY2022 that comprises the worst of the Delta & Omicron waves plus one-off restart costs. Qantas also pointed that the business is on the way for 2H 2022 Underlying EBITDA in the range of AU$450 million to AU$550 million based on existing prospects.  Further, Group Domestic is projected to be EBIT positive in 4Q 2022 and Group International is progressing to full recovery.

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