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Australia: Qantas Airways wants to resume international flights by Christmas

Qantas CEO Alan Joyce said the airline aims to reopen international flights from Australia to the US, UK, and Asia by Christmas. The country’s borders were closed, restricting travel to the majority of foreign travellers. In addition, residents could not leave the country unless they could provide valid reasons. 

Australia experienced a recent surge in cases, and they had to increase restrictions and limited travel between states as well. They went as far as issuing stay-at-home notices to high-risk areas. 

New South Wales has over 1,000 Covid-19 cases in a 24-hour period, the highest reported daily cases in Australia since the pandemic started.

The premise is to ease restrictions and open international border as their vaccination roll out progresses. 

And the airline has indicated that they will start flights to countries like South Africa, Indonesia, and the Philippines by April next year due to their low vaccination rates. 

Vaccinations is vital to resume travel

Vaccination roll-out was slow, Australia had the slowest rate among the OECD nations. This left citizens frustrated and angered. The Australian prime minister received backlash from citizens wanting an explanation as to the slow vaccination process.

However, the country has now fast-tracked vaccinations by implemented mass vaccination hubs. 

The country only had 6% of its population vaccinated by end of June, and according to the online publication from Our World In Data, the recent rate has increased to 25%.

To open international travel, the Australian government wants 70% to 80% of the population vaccinated.

The pandemic almost caused the airline to collapse completely as travel demand collapsed. The company was also to let off 10,000 staff from their 32,000 workforce.

This was required in an effort to restructure the business as a result of the pandemic’s impact. 

Qantas issued their earnings report and they reported revenue of 5.93 billion Australian dollars. This was 58% down from last year. Furthermore, they suffered a loss after tax of 1.73 billion Australian dollars, roughly $1.25 billion.  Slightly less than last year’s 1.96 billion Australian dollars. 

However, despite these losses, Qantas stocks rose 3.29% on Thursday. The CEO informed CNBC that the airline anticipates losing 20 billion Australian dollars in revenue by end of 2021, due to the pandemic. MetaNews to update further.

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Justin N. Richards

Justin N. Richards is a Florida-based technical analyst, market researcher, educator, and trader. Justin began his career in Chicago in 2001 performing futures market analysis for floor traders at the Chicago Board of Trade and the Chicago Mercantile Exchange. He also worked for numerous brokerage firms during that time, all of which hold him in high regard, and he has been providing outstanding analysis services for traders worldwide ever since. Mr. Richards is an expert in the area of market patterns, price and time analysis as it applies to futures, Forex, and stocks. In addition to these talents, he provides educational services for investors looking to improve their analysis and trade skills. Justin has a B.A. in Business Administration from UCLA and an M.S. in Financial Markets and Trading from the Illinois Institute of Technology. Justin’s professional experience, education, and discipline, not only make him an exceptional analyst, they point him out as a reliable, hard working and intelligent business strategist who is dedicated to his craft.
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