Qantas Airways reported an underlying pretax profit of A$2.06 billion for the fiscal year ended June 30, 2026, aligning with Bloomberg consensus estimates. The result represented a 14% decline from the A$2.39 billion profit recorded a year earlier, reflecting broader cost pressures despite sustained travel demand.
Fuel expenses rose by A$610 million after hedging, with the Middle East conflict contributing an estimated net impact of A$420 million through elevated jet fuel prices. Capacity growth of 3% was supported by resilient passenger demand, while Qantas Loyalty delivered double-digit earnings growth, offsetting some of the cost pressures.
The airline’s shares advanced 2.8% to A$9.48 in early trading on August 26, 2026, following the results announcement. The board declared a final dividend of 19.8 Australian cents per share, bringing the full-year payout to 39.6 cents per share.
Fleet developments included the addition of 17 new aircraft during the year, with up to 31 deliveries expected in the coming fiscal year. This includes 24 aircraft for Qantas and the first Airbus A350-1000ULR for Project Sunrise, while the retirement of the Airbus A380 superjumbo fleet is scheduled to begin in 2028. As of June 30, 2026, Qantas operated 10 A380s.
The company maintained its focus on capacity expansion and loyalty earnings growth, despite macroeconomic headwinds and geopolitical risks affecting fuel markets.
