Qantas Airways Ltd has pushed back the earnings growth target for its loyalty division by two years due to the pandemic's impact on the business, the head of its frequent flyer business said on Wednesday.
The airline now expects to achieve its target of A$500 million ($372.00 million) to A$600 million of annual underlying earnings before interest and tax (EBIT) in the financial year ending June 30, 2024, Qantas Loyalty Chief Executive Olivia Wirth told a CAPA Centre for Aviation event.
Qantas Loyalty reported a 9.3% fall in underlying EBIT to A$341 million in the financial year ended June 30, making it the largest positive divisional contributor to Qantas' earnings at a time when flying demand plunged.
(Reporting by Jamie Freed; Editing by Sam Holmes)
