Qantas swings to $2.7b loss during ‘toughest conditions in 100 years’


Qantas has swung to a $2.7 billion full year loss after the COVID-19 pandemic forced it to ground most of its aircraft and halt international flights entirely.

The net loss was driven by a $1.4 billion non-cash write down to assets including its fleet of Airbus A380s, which have been parked in the Californian desert for at least three years, and $642 million in redundancy and other restructuring costs.

Qantas reported an underlying profit, which excludes those one-off costs, of $124 million, down 91 per cent from last year.

Qantas reported an underlying profit, which excludes those one-off costs, of $124 million, down 91 per cent from last year.Credit:AP

Qantas reported an underlying profit, which excludes those one-off costs, of $124 million, down 91 per cent from last year.

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