Qantas has admitted it is unlikely to restart international flights before July 2021 owing to the ongoing global effects of the coronavirus pandemic.
The admission came as the group on Thursday (20 August) confirmed it had sunk Aus $2.7 billion into the red following "a near total collapse in travel demand".
It also disclosed full-year (year to 30 June) underlying profit down 91% year-on-year to Aus $124 million, and an Aus $4 billion second-half revenue hit.
Group chief executive Alan Joyce described the year as the carrier’s single "most challenging" to date, shaped by "extraordinary events" that had conspired to create "the worst trading conditions" in Qantas’s 100-year history.
"To put it simply, we’re an airline that can’t really fly to many places – at least for now," said Joyce.
"The impact of that is clear; Covid punched an Aus $4 billion hole in our revenue and an Aus $1.2 billon hole in our underlying profit in what would have otherwise been another very strong result."