Qantas fails to fly high in 2023 amid scandal, scrutiny

Alliance Aviation Services

28/12/2023 23:08

** Qantas Airways  QAN.AX  on track to end 2023 about 10%
lower, after gaining about 20% in the previous year
    ** Australia's flag carrier underperforms the benchmark
index  .AXJO , which has risen 8.2% so far this year
    ** Co faced reputational damage, board renewal, legal action
and regulator scrutiny in 2023
    ** In late Feb, co's shares slumped after it said fares will
moderate as airlines unlock capacity, even though it swung to
profit in HY 
    ** In early May, co named Vanessa Hudson its next CEO,
making her the first woman to lead the century-old airline
    ** In late August, Qantas posted record annual earnings and
announced a share buyback of A$500 mln ($342.25 mln)
    ** Soon after, the country's competition regulator sued the
company, alleging sale of tickets on cancelled flights
    ** In early September, the carrier said its long-serving CEO
Alan Joyce would bring forward his retirement
    ** The carrier said in October that its chairman Richard
Goyder would step down in late 2024, before its AGM
    ** Also in October, the company dropped its A$611-mln bid to
buy Alliance Aviation Services  AQZ.AX  


($1 = 1.4609 Australian dollars)

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Qantas Airways    https://tmsnrt.rs/479Utwo
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 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))