Qantas Achieves Record-Breaking Profit and Expands International Fleet

Qantas Airways, Australia's flagship carrier, has reported a record annual profit of $2.47 billion AUD ($1.6 billion) as air travel demand continues to recover post-pandemic. The airline plans to increase its fleet by ordering 12 Airbus 350 and 12 Boeing 787 aircraft, while also announcing a share buyback of $500 million AUD. Qantas aims to retire older planes and introduce new flight routes, including long-haul direct flights from Sydney to London and New York in 2025. The CEO, Alan Joyce, attributed the profits to the airline's strong position in the industry and expects air fares to decrease significantly in the next year. The Transport Workers' Union has called for Joyce's resignation over alleged empty promises and suppression of workers' wages. Joyce is set to retire in November and will be succeeded by Vanessa Hudson, Qantas' first female CEO.