Qantas has announced a ‘major’ cabin upgrade across its Boeing 737 aircraft after posting an 11 per cent year-on-year increase in profits for the first half of its financial year.
The Australian carrier on Thursday (27 February) reported an underlying profit before tax of AU$1.39 billion for the six months to 31 December 2024, following ‘strong’ demand across its full-service and budget operations.
Qantas said it benefitted from the return of domestic business travel after maintaining its revenue share of both large corporate and small and medium-sized corporates.
Demand for international travel (both business and leisure) continued to grow, with the carrier noting increased demand for its premium cabins. Load factor increased 2.5 percentage points across its first, business and premium economy cabins across its international business. However, average international fares fell 6.6 per cent, the carrier said, following a 10 per cent rise in capacity.
As part of its 1H filings, Qantas announced it will upgrade both business and economy cabins across 42 Boeing 737 aircraft, promising a modern “as-new” cabin with new seats, carpet and mood lighting, as well as “fast and free wifi” and up to 50 per cent more space for overhead luggage storage.
The first refurbished aircraft are expected to return to service from 2027 and will operate across the airline’s domestic network as well as short-haul international routes.
Qantas also said on Thursday that it expects its first ultra long-haul 'Project Sunrise' Airbus A350-1000 aircraft, designed for non-stop flights between Sydney and London, to commence service in the second half of 2026.
The airline anticipates ‘strong’ demand to continue across its portfolio for the second half of the financial year.
Qantas has long dominated Australia’s aviation sector, however its positive 1H results were posted just hours after the Australian Government on Thursday approved Qatar Airways proposal to buy a 25 per cent stake in rival carrier Virgin Australia.