Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

 

 

Invest

Where can you travel in 2021?

  • October 26 2020
  • Share

Invest

Where can you travel in 2021?

By Cameron Micallef
October 26 2020

As part of the road to recovery, Qantas has announced domestic and international destinations that Australians can travel to as early as 2021.

Where can you travel in 2021

Where can you travel in 2021?

author image
  • October 26 2020
  • Share

As part of the road to recovery, Qantas has announced domestic and international destinations that Australians can travel to as early as 2021.

Where can you travel in 2021

During Qantas’ annual general meeting, the airline revealed that New Zealand and parts of Asia could become part of the bubble.

“Both Qantas and Jetstar are keeping a close eye on new markets that might open up as a result of these bubbles – including places that weren’t part of our pre-COVID network,” Qantas group chairman Richard Goyder remarked.

“By early next year, we may find that Korea, Taiwan and various islands in the Pacific are top Qantas destinations while we wait for our core international markets like the US and UK to reopen.”

CEO Alan Joyce pointed to the difficulty in the recovery with expectations of being back to 60 per cent of pre-COVID levels by now, instead the airline is offering at 30 per cent.

Advertisement
Advertisement

“This delay resulted in a $100 million negative impact on earnings for the first quarter of FY21 and will have an impact on Q2 as well,” Mr Joyce said.

“Essentially, this is a timing issue. We know the upswing will materialise – just later than planned.”

However, the CEO noted the airline is now in a position to cope with the slower border openings.

“Importantly, we have the liquidity to manage this”. 

“Assuming Queensland opens to New South Wales in coming weeks, we expect Group Domestic capacity to reach up to 50 per cent by Christmas.”

“We know that latent travel demand is strong. We saw that with our ‘scenic flight’ earlier this month, which sold out in 10 minutes. And we saw it when South Australia opened to New South Wales, with 20,000 seats selling across Qantas and Jetstar in just 36 hours,” the CEO continued.

With most international travel off limits for a while, Qantas is banking on a boom in domestic tourism once more borders open up. 

Acknowledging the impact of ‘difficult decisions’

Despite highlighting the positive position Qantas is in now, Mr Goyder said that, to survive, the company needed to make very hard decisions.

“As already announced, more than 6,000 people will leave the business, with a review of another 2,000-plus roles in ground handling underway.

“Around 18,000 of our people remain stood down.”

“The human impact of these actions deserves to be acknowledged. Many regard Qantas or QantasLink or Jetstar as not just their employer, but a second family. I want to pay particular tribute to those who have left after many years – sometimes decades – of loyal service to the national carrier.”

“Can I also say, these decisions are about putting the Qantas Group in a position where we can survive, recover and ultimately grow again. They are about preserving as many jobs as possible in the long term,” the chairman concluded.

Where can you travel in 2021?
Where can you travel in 2021
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article

About the author

author image

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

more on this topic

more on this topic

From the web

Recommended by Spike Native Network

More articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.