Qantas Airways Ltd

QAN: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.50	Sfxtq	Dcvmsjql

Competition is Weighing on Qantas' Profitability

Angus Hewitt

Feb 23, 2024

Business Strategy and Outlook

The covid-19 pandemic has wreaked havoc on the global airline industry. Lockdowns, border restrictions, and social distancing measures have clipped Qantas' wings. Stringent Australian entry requirements for international arrivals and an effective ban on noncitizen, nonpermanent resident arrivals decimated passenger revenue, and despite aggressive cost-cutting, operating deleverage led to significant aftertax losses in 2021 and 2022.

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