Qantas is confident it will return to 100% of its pre-Covid capacity in 2024

Qantas CEO Alan Joyce says helium expects the hose to spot a afloat instrumentality to pre-Covid capableness successful 2024.

"We're assured that we'll get backmost ... 100% of our pre-Covid planetary capacity, and good implicit 100% for our home capacity," Joyce projected for fiscal twelvemonth 2024.

″[There is] truly beardown request successful leisure, successful concern ... successful corporate," helium told CNBC, adding that the pent-up request volition proceed for immoderate time.

Qantas reported grounds half-year profits successful the six months ended December 2022, but shares inactive closed 6.8% little connected Thursday.

The flagship bearer recorded underlying nett earlier taxation of $1.43 cardinal Australian dollars ($975.2 million) successful half-year ended Dec. 31. It marks a reversal from A$1.27 cardinal nonaccomplishment successful the aforesaid play a twelvemonth before.

In its earnings release, the hose reported that the cardinal drivers for the results were consistently robust question demand, higher yields and outgo improvements from the Group's A$1 cardinal betterment programme which is nearing completion.

The roadworthy to 100% pre-Covid capableness volition not beryllium without turbulence, the CEO said.

The biggest roadblock for Qantas is the proviso concatenation associated with aircraft, Joyce said.

"We're getting 3 caller 787s that travel successful the adjacent fewer months, they are 2 years late," helium said. This is successful summation to the clip taken to reactivate their A380 fleet, which helium said a batch of attraction is needed.

"Every attraction installation astir the satellite is precise afloat due to the fact that each hose is trying to get their craft backmost up and running."

The CEO said Qantas volition payment from the return of Chinese travelers, arsenic Beijing shifts distant from its zero-Covid policies.

"China is precise important for Australia successful wide due to the fact that the largest visitors internationally that came to Australia wherever Chinese," Joyce said.

"We deliberation that's going to beryllium large for our system here, which has a knock-on effect connected Qantas."

According to JPMorgan, China accounted for 15.3% of Australia's inbound tourism successful 2019 — earlier the pandemic.

Total Chinese arrivals into Australia stood astatine 1.43 cardinal successful 2019, with Chinese tourists racking up a full spending of A$12.4 billion, authoritative information showed.

Qantas is presently re-establishing its operations successful Hong Kong, but constricted crushed handling capacities means the bearer cannot grow arsenic accelerated arsenic it would like, the CEO said.