DOCSLIB.ORG

This Company Was Founded 100 Years Ago in the Wake of a World War and a Devastating Pandemic

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
This Company Was Founded 100 Years Ago in the Wake of a World War and a Devastating Pandemic QANTAS ANNUAL REPORT 2020 QANTAS ANNUAL REPORT 2020 CEO’s Report “This company was founded 100 years ago in the wake of a world war and a devastating pandemic. We know that things will improve, and that the Qantas Group will thrive when it does.” This year was one of sharp contrasts. After years of record profits, our balance sheet is strong. That enabled For most of FY20, the Qantas Group us to raise over $2 billion in debt in was focused on growth. We opened Support from the Australian Seeing so many people leave this This company was founded 100 years addition to a $1.4 billion equity raising, our pilot academy in Queensland, Government — for the aviation organisation, and many more stood ago in the wake of a world war and giving us the extra liquidity to make it announced new routes and were industry and for the broader economy down from the jobs they love, has a devastating pandemic. We know through to the other side of the crisis. actively hiring new people. We — was a key feature of FY20. In been the hardest part of this crisis. that things will improve, and that the had completed historic non-stop The Group’s strengths are also clear in particular, JobKeeper provided a We continue to offer them as much Qantas Group will thrive when it does. research flights from New York and its FY20 performance. crucial safety net for the thousands support as we can. One positive is the London direct to Sydney, and we of our people on stand down, and feedback from other companies that Despite a 21 per cent drop in revenue, were preparing to order the aircraft continues to do so. have offered secondary employment, the Group still posted a $124 million who describe the incredible required to fly them commercially for The impact of this crisis means the Underlying Profit Before Tax. That was professionalism and resilience of Project Sunrise. Qantas Group will be smaller for Alan Joyce AC largely due to our first half result — Qantas and Jetstar people. That spirit some time to come. The markets we Then came the worst trading which mostly unwound in the second runs throughout the Group and it’s operate in will be different. And we’ll conditions in a century. half — and the rapid action to control what will help us recover. costs as travel demand collapsed. need to rebuild our balance sheet. It was a sudden reversal of fortune For not the first time in our history, We have received incredible support that has been very hard for our There were some bright spots in our we need to reinvent how we do things from our partners, suppliers and people, customers and shareholders. portfolio. Qantas Loyalty achieved — which will result in more difficult customers. And also from the 91 per cent of its profit from last year But the depth of the contrast points decisions to ultimately protect the communities we look forward to and set a record level of member to the fact we entered the COVID-19 company’s future. getting back to serving in the future. satisfaction in the last, and most crisis in a very strong position. We thank them sincerely. challenging, quarter. Qantas Freight Perhaps the strongest of any airline has benefited from the increasing in the world. shift to e-commerce. And our charter flying for resources companies performed strongly. .
Load more

Recommended publications
  • ASX/Media Release
    ASX/Media Release QANTAS GROUP POSTS SIGNIFICANT LOSS FROM FULL YEAR OF COVID • Underlying Loss Before Tax: $1.83 billion • Statutory Loss Before Tax: $2.35 billion • $12 billion revenue impact from COVID-19 crisis in FY21 • Net debt reduced in 2H21 to $5.9 billion • Statutory Net Free Cash flow of $267 million in 2H21 • Restructuring program ahead of target, delivering $650 million in year one • Total liquidity of $3.8 billion, providing buffer against uncertainty • 95 per cent of domestic flying cash positive • Record performance by Qantas Freight mostly offsetting cost of idling international operations • Continued strong cash generation, growth in members at Qantas Loyalty • Updated plan for restart of international services from end-2021 • Ongoing flexibility for customers in response to booking uncertainty 26 August 2021: The Qantas Group has posted a substantial full year loss as a result of the COVID crisis – but has started FY22 in a fundamentally better position to deal with uncertainty and manage its recovery compared with 12 months ago. Total revenue loss from COVID reached $16 billion as the full year impact of minimal international travel and multiple waves of domestic border restrictions continued to hit travel demand. The Group’s Underlying PBT loss was $1.83 billion. The statutory loss before tax – which includes one-off costs such as redundancies and aircraft write downs – was $2.35 billion. Underlying EBITDA was $410 million, in line with guidance provided in May. Periods of open domestic borders in the second half saw significant cash generation by Qantas and Jetstar, which helped the Group to reduce net debt from $6.4 billion in February 2021 down to $5.9 billion by the end of June.
    [Show full text]
  • Qantas Notice of Meeting 2008 2008 Annual General Meeting
    2008 Notice of Meeting 27 October 2008 Dear Shareholder 2008 Annual General Meeting 2. Election of Directors 2.1 Alan Joyce The 2008 Annual General Meeting (AGM) of Qantas Alan Joyce was appointed by the Directors as an Executive Airways Limited (Qantas) is to be held at 11:00am on Friday, Director on 28 July 2008 pursuant to clause 6.5(a) of the 28 November 2008 in the Plaza Terrace Room of the Brisbane Qantas Constitution, which allows the Board to appoint Convention and Exhibition Centre, corner of Merivale and a Director to fill a casual vacancy or as an addition to the Glenelg Streets, South Bank, Brisbane. The formal Notice existing Directors. of Meeting is attached. Mr Joyce retires as required by clause 6.5(b) of the Qantas Shareholders who are unable to attend the AGM and have Constitution and, being eligible, offers himself for election access to the Internet will be able to access a live webcast of as an Executive Director. the AGM on the Qantas website at www.qantas.com.au/info/ about/investors/agms. Mr Joyce will succeed Geoff Dixon as Chief Executive Officer following his retirement at the conclusion of the 2008 AGM. Business Mr Joyce is a former Director of Orangestar Investment Holdings Pte Limited (holding company of Singapore-based . Consideration of Reports Jetstar Asia and Valuair) and Jetstar Pacific Airlines Aviation The Financial Report, the Directors’ Report and the Joint Stock Company (in Vietnam). Independent Audit Report for the year ended 30 June 2008 Mr Joyce was appointed Chief Executive Officer of Jetstar in (which are contained in the 2008 Annual Report) will be October 2003.
    [Show full text]
  • The Future of Leadership
    The Future of Leadership The Future April 2010 Abu Dhabi Chicago Kuala Lumpur New Delhi Stuttgart Amsterdam Cologne Lisbon New Jersey Sydney Athens Copenhagen London New York Taipei Atlanta Dallas Los Angeles Oslo Tokyo Auckland Detroit Madrid Paris Toronto Bangkok Dubai Melbourne Philadelphia Vienna Barcelona Düsseldorf Mexico City Prague Warsaw Beijing Frankfurt Miami Rome Washington Berlin Hamburg Milan San Francisco Zurich The Future of Leadership Boston Helsinki Minneapolis Santiago Brussels Hong Kong Monterrey São Paulo Budapest Houston Moscow Seoul Conversations with Leaders about Their Challenges and Opportunities Buenos Aires Istanbul Mumbai Shanghai Canberra Jakarta Munich Singapore Casablanca Kiev Nagoya Stockholm bcg.com The Boston Consulting Group (BCG) is a global manage- ment consulting firm and the world’s leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep in- sight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable compet- itive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 69 offices in 40 countries. For more infor- mation, please visit www.bcg.com. The Future of Leadership Conversations with Leaders about Their Challenges and Opportunities Grant Freeland Kimberly Powell Rolf Bixner Andrew Dyer April 2010 bcg.com © The Boston Consulting Group, Inc. 2010. All rights reserved. For information or permission to reprint, please contact BCG at: E-mail: [email protected] Fax: +1 617 850 3901, attention BCG/Permissions Mail: BCG/Permissions The Boston Consulting Group, Inc.
    [Show full text]
  • Aviation Leaders Gather in Dublin for IATA Annual Meeting
    Aviation leaders gather in Dublin for IATA annual meeting By Wendy Morley on May, 31 2016 | Industry News Global aviation industry leaders are gathering in Dublin for the International Air Transport Association’s 72nd Annual General Meeting and World Air Transport Summit. IATA’s annual meeting will open on June 2 with keynote addresses by Shane Ross TD, Ireland’s Minister for Transport, Tourism and Sport, and Dr Olumuyiwa Benard Aliu, President of the Council of the International Civil Aviation Organization (ICAO). "The airline industry’s most senior leaders will discuss measures to ensure the economic and social benefits of safe, secure, efficient and sustainable global air transport," said Tony Tyler, IATA’s Director General and CEO. A highlight of the World Air Transport Summit will be a panel discussion on the industry’s top issues featuring Bernard Gustin, CEO, Brussels Airlines; Ed Bastian, CEO, Delta Air Lines; Sir Tim Clark, President, Emirates Airline; Jayne Hrdlicka, CEO, Jetstar Group; and Charamporn Jotikasthira, President of Thai Airways. The discussion will be moderated by CNN’s Richard Quest. Summit panel discussions will also focus on sustainability and cyber security, with Alan Joyce, CEO, Qantas, among panel participants. The AGM and World Air Transport Summit bring together CEOs and senior management of IATA’s 264 member airlines that together carry some 83% of global traffic. Stakeholders from across the value chain will participate in the event, including leaders from governments, international organizations, aircraft manufacturers and other industry partners. Nearly 1,000 delegates are expected to participate in the event, which is being hosted by Aer Lingus at the Royal Dublin Society.
    [Show full text]
  • May 2009 Janfeb 2009.Qxd
    Aviation Strategy Issue No: 139 May 2009 Private equity looks to CONTENTS pick up ILFC on the cheap nternational Lease Finance Corporation (ILFC) - the world’s largest aircraft lessor by fleet value - is facing an uncertain Analysis futureI thanks to its reliance on the formerly ultra-cheap debt rating of its parent AIG, which was effectively taken over by the Lessor fall-out from US government last year after running into financial trouble. the credit crisis 1-4 Thanks to disastrous forays into hedging and risky deriva- tives, US insurance giant AIG had substantial liquidity problems Vueling: last year, with credit and debt rating being downgraded substan- a Catalan phoenix? 5-6 tially. This cut off access to public debt markets, and the situa- tion for AIG became so dire that in September 2008 the US Department of the Treasury had to step in, leading to the Federal Reserve Bank of New York providing AIG with a two-year $85bn Briefing revolving credit facility (subsequently raised to $150bn). In return, the US government took a 79.9% stake in AIG, Qantas - jumping and the credit facility was accompanied by a number of finan- through hoops 7-11 cial and operating restrictions, including the requirement that AIG’s businesses were restructured, most importantly to Tough times include the offloading of a number of investments in order to ahead for SIA 12-17 pay off debts. AIG sold its 50% stake in London City Airport in September last year, and ILFC was also put up for sale. For California-based ILFC, a change of ownership should Databases 18-23 have been a relatively straightforward exercise, as the lessor made a net profit of $1.1bn last year, 19.7% up on 2007, based on revenue of $5.1bn - 7.6% higher than in 2007.
    [Show full text]
  • LOADED Qantas Group CEO, Alan Joyce, Answers His Critics with Record Profits and Transformed International Operations
    Vol. 23 No. 6 July-August 2016 orientaviation.com LOADED Qantas Group CEO, Alan Joyce, answers his critics with record profits and transformed international operations Lucrative Business Class King Power’s football U.S. open skies days are numbered says loving Thai tycoon buys policy changing Emirates Airline boss into Thai AirAsia course? innovation Industry insight:in global aerospace B:8.35” T:7.95” S:7” An oil that’s tough on scuff. Mobil Jet™ Oil 387— Specifically designed to prevent costly wear on the gears and bearings in your jet engine. We put our energy into a formulation that provides advanced load protection while resisting deposits and coking, because engine performance starts with the oil. B:11.14” T:10.75” S:9.9” mobiljetoil387.com Copyright © 2016 Exxon Mobil Corporation. All rights reserved. All trademarks used herein are trademarks or registered trademarks of Exxon Mobil Corporation or one of its subsidiaries unless otherwise noted. Component photographed courtesy of MD Turbines. Copyright © 2016 Exxon Mobil Corporation. All rights reserved. All trademarks used herein are trademarks or registered trademarks of Exxon Mobil Corporation or one of its subsidiaries unless otherwise noted. Component photographed courtesy of MD Turbines. Filename: 716639-4_V1.indd CLIENT: NYC BBDO New York ExxonMobil PRODUCT: AVI-Oil that’s tough-Inlet Gear Box Agency Job Number: P00002387 Cradle Job Number: 716639-4 JOB#: 716639-4 SPACE: Full Pg 4C Proof #: 1 Path: EG-PLUS-NY:Volumes:EG-PLUS-NY:EGPlus_ Created: 3-29-2016 4:54 PM BLEED: 8.35”
    [Show full text]
  • The Transformation Continues
    The Transformation Continues QANTAS ANNUAL REPORT 2013 QANTAS ANNUAL REPORT 2013 ANNUAL REVIEW 04 Chairman’s Report 07 CEO’s Report 08 Financial Overview 11 Qantas Group Strategy Update 23 Qantas in Transformation 27 Qantas/Emirates Network 36 Jetstar’s Pan-Asian Network 38 Qantas Group Passenger Fleet Map 41 Australia’s National Carrier ANNUAL REPORT 50 Board of Directors 54 Review of Operations 64 Corporate Governance Statement 71 Directors’ Report 97 Financial Report 165 Shareholder Information 166 Sustainability Statistics and Notes 180 Financial Calendar and Additional Information 01 “Qantas is in a period of transformation as we make our business better and stronger.” Qantas Group CEO Alan Joyce 02 QANTAS ANNUAL REPORT 2013 03 Chairman’s Report Group Performance Looking Forward This result The Qantas Group reported statutory The very competitive operating profi t after tax of $6 million and conditions facing the Group are unlikely demonstrates the underlying profi t before tax of $192 to ease during 2013/2014. Productivity million* for the 2012/2013 fi nancial year — and cost-competitiveness will be vital for strength of our a result that demonstrates the strength the Australian economy as a whole, and portfolio and the of our portfolio and the progress we have Qantas in particular. made with our strategy in a challenging While we are making progress, there is progress we have aviation market. still a great deal of work to do. However, made with our Three of our four major operating the Group is well positioned for future segments were profi table and we took success. The actions we took during strategy.
    [Show full text]
  • The Senate Economics Legislation Committee Regarding the Qantas Sale Act 1992
    2014 Submission To: The Senate Economics Legislation Committee regarding the Qantas Sale Act 1992. Submission By: Colonial Airways - Aerospace Consultancy Submitted 10 March 2014 1 Qantas Sale Amendment Bill 2014 On 6 March 2014, the Senate referred the provisions of the Qantas Sale Amendment Bill 2014 to the Senate Economics Legislation Committee for inquiry and report. The bill proposes to repeal Part 3 of the Qantas Sale Act 1992, which stipulates the requirements regarding Qantas' articles of association. The bill would also amend the Air Navigation Act 1920, to allow Qantas to be included in the definition of an Australian international airline. In its examination of the provisions of the bill, the Committee has been asked to: Evaluate the effect of the proposed amendments on the aviation sector and the broader Australian economy; Scrutinise the detail and impact of the legislation, including any potential impact on other legislation; and Consider the opportunities the amendments will provide for Qantas to increase its competitiveness through the harmonisation of Australia's aviation regulatory framework. The Committee is due to report to the Senate by 24 March 2014. The Committee would like to receive written submissions by 14 March 2014. Please note that this inquiry is separate from the Senate Rural and Regional Affairs and Transport References Committee's current inquiry into the future of Qantas. Committee Secretariat contact: Senate Standing Committees on Economics PO Box 6100 Parliament House Canberra ACT 2600 Phone: +61 2 6277 3540 Fax: +61 2 6277 5719 Authors: Captain L. McNeil & Captain P. McNeil Colonial Airways. Aerospace Consultancy Division.
    [Show full text]
  • Qantas Investor Day
    Qantas Investor Day 12 May 2015 For personal use only Morning Session A Strong Platform for Sustainable Growth Alan Joyce - Group Chief Executive Officer The Financial Framework for a Stronger Qantas Group Tino La Spina - Group Chief Financial Officer Brand as a Competitive Advantage Olivia Wirth - Group Executive Brand, Marketing & Corporate Affairs Q&A Session 1 Morning Tea For personal use only Session 2 Leveraging Customer Insights, the Next Wave of Transformation Rob Marcolina - Group Executive Strategy, Transformation & IT Continuing to Win in a Shifting Domestic Market Andrew David - Chief Executive Officer Qantas Domestic John Gissing - Group Executive Associated Airlines & Services Maximising Jetstar’s Position in Australia & New Zealand, the Roadmap to Success in Asia Jayne Hrdlicka - Chief Executive Officer Jetstar Group Q&A Session 2 Lunch with Neil Perry For personal use only Afternoon Session NPS in Action - Live Panel Olivia Wirth - Group Executive Brand, Marketing & Corporate Affairs A Platform for Innovation-Led Growth Lesley Grant - Chief Executive Officer Qantas Loyalty Transforming Freight to Optimise Group Outcomes Alison Webster - Executive Manager Freight Building a Resilient and Sustainable Qantas International Gareth Evans - Chief Executive Officer Qantas International & Freight Q&A Session 3 CEO Summary Alan Joyce - Group Chief Executive Officer For personal use only A Strong Platform for Sustainable Growth Alan Joyce For personal use only GROUP OVERVIEW The Qantas Group in global context Global industrial output, trade & business confidence improving • Regional divergence persists • 2015 forecast for strongest global passenger growth since 20101 • Highest passenger growth remains on routes to or within Asia1 Australia domestic demand growth flat as economy rebalances • Resources sector cooling, positive growth in other sectors AUD trading in long-term historical range Fuel prices at five-year lows For personal use only Airline consolidation continuing through equity and joint ventures 6 1.
    [Show full text]
  • Alan Joyce, CEO, Qantas Airways ­ FT.Com
    4/2/2015 Monday interview: Alan Joyce, CEO, Qantas Airways ­ FT.com THE MONDAY INTERVIEW March 15, 2015 12:04 pm Monday interview: Alan Joyce, CEO, Qantas Airways Jamie Smyth ©Graham Jepson He has been labelled devious by politicians, derided as a wrecker by trade unions and lampooned as a leprechaun in the media. But Alan Joyce, chief executive of Qantas Airways, says he can take the flak that comes with running Australia’s flag carrier and has no plans to step aside as he steers the airline back to profits. “Would I rather that some of the terminology out there wasn’t used? Probably,” says the Irish­ born executive. “But if you are CEO of an iconic brand you are going to get a lot of mentions.” The spotlight does not sit naturally on Mr Joyce. Soft­spoken and small in stature, he prefers reading a good book to Sydney’s social scene. But last year he was the second most talked about business person in Australia, registering 80,000 media references, behind only billionaire James Packer, who dates models and was involved in a televised punch­up outside his home. Qantas, the “Flying Kangaroo”, has become Australia’s most recognisable brand during its near century­long history in a country dependent on air travel. Since taking the controls in 2008 Mr Joyce has rarely been out of the news. In 2011 he grounded Qantas during a union dispute. 1/5 4/2/2015 Monday interview: Alan Joyce, CEO, Qantas Airways ­ FT.com More recently he fought a capacity war with Virgin Australia, in which he crossed swords with John Borghetti, a former Qantas executive who left when Mr Joyce pipped him to the top job.
    [Show full text]
  • Red Tail Road to 100 Foundation & Chapters Newsletter
    Red Tail Road to 100 Foundation & Chapters Newsletter www.redtailroadto100.com Q4 - December 2020 th 100 Birthday Edition Current Red Tail Membership stands at: 2,546 A Message from the Foundation Committee Welcome to our Q4/2020 National Newsletter. Happy Qantas Birthday to all of you. 100 Years of adventure, memories, fun times and lifetime friendships. Our “Spirit” is well and truly alive, and not even COVID19 has been able to dent it. This Birthday Newsletter is a mega-issue with the back 40 pages dedicated to newsfeeds on our Centenary, the state of Qantas today, their post COVID recovery plan and some other interesting snippets of news from around the world. Plans for Reunions around Australia and overseas continue to develop and all indications are, they will be very popular. Tasmania had their Reunion on December 3, and it was overbooked! We also had a very successful Webinar with Alan Joyce on the eve of our Birthday, attended by 80 Members. This is our last Newsletter for 2020 and we would like to take the opportunity to wish everyone a very Merry Christmas and trust that 2021 courses our path back to the levels of normality we so often took for granted. Australians have done a great job keeping COVID numbers low – let’s keep it up! Take care and stay safe. We look forward to seeing all of you in 2021. In this Edition: 1 A Message from our Worldwide Patron, John Hudson Fysh: As Christmas and the festive season approaches it is with a great deal of satisfaction that I take this opportunity to express my gratitude to all of you from both in Australia and in foreign lands who have been so willing to celebrate our Centenary.
    [Show full text]
  • Report: Air Navigation and Civil Aviation Amendment (Aircraft Crew
    THE FUTURE OF THE FLYING KANGAROO Dissenting Report by Senators Xenophon and Madigan 1.1 The bills at the centre of this inquiry aim to address serious issues within Australia’s aviation sector, and in particular with our national flag carrier Qantas. 1.2 Australians need to think seriously about what has happened recently in the aviation industry, but more importantly, what they want to see happen in an industry in which Australia’s deep involvement reaches back at least as far as the Wright Brothers. The Qantas Group, with its extensive domestic and international operations, together with its 30,000 employees, plays a key role in Australia’s national economy and identity. The 29 October 2011 grounding of Qantas illustrates just how important Qantas is, and the flow-on effects that any disruption to Qantas operations can have. 1.3 The Majority Report fails to grasp the significance of the underlying problems for Australian aviation and employment. We are very concerned that the Committee, by not supporting the bills or offering alternative means of addressing these pressing issues, has not dealt with the problems in this area and has wasted the opportunity to take action. 1.4 Since the passage of the Qantas Sale Act in 1992, there have been many changes in the way Qantas operates, and those changes have accelerated in recent years under current management. There is no doubt that the aviation industry globally operates in a tough commercial environment. Qantas remains an iconic brand, but that status appears to have come under pressure as a direct result of the actions and strategies of current management.
    [Show full text]