It’s Raining Cash at Qantas in Supercharged Post-Covid Era
- Outgoing CEO Joyce marks final results with spending splurge
- Record profit fuels criticism about high cost of air travel
Alan Joyce is bowing out at Qantas Airways Ltd. with an unprecedented cash splurge, underscoring the profitability of the post-Covid era and reigniting concerns about the soaring cost of air travel.
The Australian airline on Thursday sprayed money in all directions as it reported record earnings. Qantas simultaneously spent billions of dollars on Boeing Co. and Airbus SE jets, returned A$500 million ($324 million) to shareholders, and gave A$500 travel credits to its entire rank-and-file workforce.
Up Next
It’s Raining Cash at Qantas in Supercharged Post-Covid Era