Insider Confidence and Financial Highlights for Qantas Airways

Founded in 1920, Qantas Airways (QAN:AU) has grown into Australia’s largest airline, recognized for its safety, operational reliability, and customer service. Operating under the Qantas and Jetstar brands, the company provides both domestic and international services and has expanded its portfolio to include Qantas Freight Enterprises.

Insider Trades Reflect Confidence

In September 2024, Qantas saw significant insider buying, reflecting strong confidence in the airline's future. Board member Nora Lia Scheinkestel purchased 47,000 shares on September 02 at AUD 6.84 per share, totaling AUD 217,838, followed by an additional purchase of 1,625 shares on September 24 at AUD 7.30 per share, amounting to AUD 11,862. 

Chairman John Patrick Mullen also acquired 70,000 shares on September 20 at AUD 7.314 per share, worth AUD 347,398. 

These transactions underscore the leadership’s belief in Qantas’ long-term potential. Over the past year, Qantas Airways Limited's stock price has risen by 43.80%, further strengthening the market’s confidence in the company.

Strong FY24 Results

Qantas Group posted robust financial results for FY24, achieving an Underlying Profit Before Tax of AUD 2.08 billion and a Statutory Profit After Tax of AUD 1.25 billion. Despite a decrease in overall earnings due to moderating fares and reduced freight revenue in the first half, Qantas delivered strong second-half momentum with improved domestic revenue and customer satisfaction.

The company made significant investments in new aircraft, receiving 11 new jets, including five Jetstar Airbus A321neo Long Range planes and two QantasLink A220s, with total capital expenditure reaching AUD 3.1 billion. Additionally, Qantas focused on enhancing customer experience, upgrading its digital platforms, food services, and increasing the availability of frequent flyer seats.

Looking ahead, travel demand remains stable, and Qantas aims to continue its operational improvements, confident in sustained growth. The leadership’s investments in the business and insider buying trends signal optimism about the airline’s future trajectory.