Qantas averaged just 33 per cent of pre-pandemic flying levels during FY22. -AAP Image
Qantas has posted a full-year underlying pre-tax loss of $1.86 billion after border closures and travel uncertainty due to the coronavirus pandemic weighed on earnings.
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The airline's bottom line net loss for the year to June 30 was $860 million, compared to $1.7 billion the year before.
"These figures are staggering and getting through to the other side has obviously been tough," CEO Alan Joyce said on Thursday.
But revenue for the year jumped 53.5 per cent to $9.11 billion following a revival in global air travel after COVID-19 restrictions eased.
Qantas said flying levels for the year averaged 33 per cent of pre-pandemic levels after the pandemic significantly disrupted air travel, but finished the financial year at 68 per cent of pre-pandemic levels.
The carrier will not pay a dividend for the year but did announce an on-market share buy-back of up to $400 million.
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