Qantas’ profit nosedives 91 per cent as COVID-19 delivers $4 billion blow
Published: (Updated: ) by .
Qantas has estimated the economic blow delivered to the business by coronavirus is in excess of $4 billion.
Qantas' profit has plunged more than 90 per cent as the airlines bottom line is delivered a knockout punch by COVID-19.
Revealing its financial results to shareholders this morning, the airline said its underlying profit before tax was just $124 million, down 91 per cent on the previous financial year.
Its statutory loss before tax has ballooned out to $2.7 billion.
Qantas has estimated the economic blow delivered to the business by coronavirus is in excess of $4 billion.
More to come.
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Source: 9News https://www.9news.com.au/national/coronavirus-qantas-profit-down-91-per-cent-as-covid19-pummels-airline/4222289a-fd44-44aa-a813-1bb74bfb8113