Qantas has delivered huge profits for the 2025 financial year, sending its share price into the clouds for a new record high.
The national carrier delivered $2.4bn in underlying profits for the 12 months, a 15 per cent lift on the prior year or an extra $316m.
The “underlying” measure strips out one-off costs or gains and is designed to present a truer picture of a company’s performance.
Statutory profits hit $1.61bn, up 28 per cent.
Strong growth in domestic and international passenger numbers drove the profit haul, Qantas chief executive Vanessa Hudson said, with the company booking an extra four million customers over the year.
“Continuing strong demand across all market segments, combined with our dual brand strategy, helped the Group grow earnings,” she said.
“Qantas and Jetstar carried four million more customers during the year, while our loyalty business grew as frequent flyers engaged with the program more than ever before.”
The company’s stock price boomed on the results, lifting 8.6 per cent across the trading day to mark a fresh record high of $12.07 as of 2.30pm.
The jump added some $1.45bn to the company’s market capitalisation, which now sits at $18.2bn.
Shareholders of the ASX-listed $17bn company will enjoy some of the profits, with Qantas announcing a special $150m dividend.
Qantas domestic revenues reached $7.61bn, a 5 per cent jump on 2024, while Qantas international revenues hit $9.1bn, a 6 per cent improvement.
Revenues at Jetstar, the company’s low-cost offering, lifted 16 per cent to $5.7bn.
“Jetstar had a standout year, with its fleet renewal providing a significant boost to earnings,” Ms Hudson said.
“In a high cost of living environment, Jetstar continued to provide value for customers, with around one in three travelling for under $100.”
Jetstar ferried about 25 per cent more customers internationally to and from Australia compared with 2024, Qantas said, with “particularly positive performance” into Japan, Thailand and South Korea.
As of June 30, Qantas holds $2.2bn in cash, $1.4bn in committed undrawn debt and $8.6bn in unencumbered fleet and other assets.
Looking forward, Qantas said it expected strong ongoing travel demand in the next few months and revenues to increase further.
“Group domestic unit revenue is expected to increase by 3-5 per cent in the first half of FY26 compared to the previous year,” the company said.
“Group international unit revenue is expected to increase by 2-3 per cent over the same period.”
The company will also spend billions on new aircraft and upgrading its existing fleet.
