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Date : 01/09/2022

Qantas Airways (ASX: QAN) Shares are Flying High following FY22 Results

Qantas Airways (ASX: QAN) is an Australian airline company widely regarded as the most dependable airline company globally. The company is Australia’s biggest airline company and ranks as the second oldest brand globally, founded in 1920.

Qantas Airways (ASX: QAN) is engaged in local and international flights. Qantas and Jetstar are the two main companies. Jetstar is focused on domestic flights, while Qantas goes international.

Qantas reported a massive $1.9 billion loss, but the market seemed to enjoy what it saw yesterday, sending the QAN share price up by 6.5%. But a single good day shouldn’t make you think Qantas stock is no longer a good investment.

The company recently released its FY22 results; since then, QAN shares have been in greens. The investors are showing great interest in the Qantas stocks in the post-pandemic environment.

ASX QAN: FY22 Results Highlights

Qantas Airways (ASX: QAN) shares are flying high following FY22 results. The QAN share price is trading at $5.18 and have gained more than 6.5%. The current market cap of the company is approximately 9.77 Billion AUD.

QAN-ASX Shares News

Here is a comprehensive report on news & analysis for Qantas Airways:

  1. QAN’s total revenue was down 49% from FY19 levels.
  2. The company’s overall spending was 38% lower than in FY19.
  3. The underlying EBITDA came in at $281 million in FY22.
  4. A total of $526 million in EBITDA is recorded in the second half of 2022.
  5. The company announced $1.86 billion in underlying loss before taxes, while statutory loss before tax was $1.19 billion in FY22.
  6. The company has a positive operating cash flow of $2.67 billion.
  7. Total debt decreased to $4 billion, below the anticipated $4.2–5.2 billion range. They have $3.3 billion in cash on hand.
  8. It was reported that the company would be repurchasing $400 million in stock on the open market.

ASX:QAN News: Qantas is No Longer Just Flights

Due to the rise of online shopping, the company’s freight segment has thrived, and the loyalty department that manages its frequent flyer program has also done well. A whopping 14.1 million users are part of its membership, and the company brought in $1.33 billion in income, an increase of 36% year over year.

It’s worth noting that Qantas’ loyalty members spent over 1bn points on Monday, when Qantas published a large number of award seats, even though this wasn’t factored into its figures; this shows that, despite some complaints, members are still actively participating in the program.

Qantas takes a Novel and Strange Decision

As is customary during reporting season, the firm has announced many lounge enhancements, including in Auckland and Adelaide. A new flight between Sydney and Auckland and New York City was announced, making competition with Air New Zealand on that route more intense than ever.

Investors just can’t understand why the Red Roo doesn’t just wait till the A350s reach so that it can begin offering non-stop flights from Sydney, especially because Air New Zealand will have already begun the route, and there is a shortage of 787s. Whether or not this flight continues after Project Sunrise is an intriguing question.

A Prosperous FY23 for QAN stock investors

QAN’s EBITDA is expected to reach $2.97 billion in FY23, up almost 10 times from FY22’s levels, and revenues are expected to reach $16.94 billion, an increase of 86%. Loyalty EBIT is expected to rise to $425-$450m, but the company did not disclose any group revenue, EBITDA, or NPAT guidance.

It forecasts foreign and local capacity to reach 84% and 106% of pre-COVID levels, respectively. This morning, the 9% QAN share price increase shows investors feeling bullish.

What’s Next for QAN Shares?

Based on the latest Qantas news & insights, what is the prediction for QAN ASX shares?

Qantas’ FY22 performance report seems optimistic. Data from 2H and Q4 reveal a significant upward trend in QAN’s recovery. In addition, the operational concerns ought to be resolved by the end of September so that passengers may anticipate a marked improvement in service beginning in early October.

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