Qantas board shuffle and forecast update

THE Qantas Group has announced changes to its Board, welcoming Former American Airlines CEO and Chairman, Doug Parker, who brings more than 35 years’ aviation experience. Additionally, long-serving Qantas Director Michael L’Estrange AO will retire from the Board in November, which marks the end of his current term.

“There are few people with as much experience running airlines as Doug. He’s spent more than two decades as an airline CEO in North America, including eight years heading up the world’s largest airline. The knowledge and perspective he’ll bring to the Board will be a huge asset as we grow in the years ahead,” Qantas Chairman Richard Goyder said.

Parker, who will sit on the Board from today, commented, “Qantas has always been one of the world’s great airlines and it has clearly come through the pandemic in a very strong position. I’m honoured to be joining the board at a time when there is a lot of momentum and I look forward to doing what I can to support that”.

Goyder praised the outgoing L’Estrange for his “huge contribution” over the past seven years, particularly during the pandemic, and described him as “an incredibly diligent director” who provided “invaluable” insights on international relations and government affairs.

Qantas will hold an Annual General Meeting on 03 November, after which it will have an eight member board made up of four women and four men.

Following the board shuffle, Qantas provided an updated forecast for the full year 2023, declaring an estimated underlying profit before tax of between $2.425 and $2.475 billion. The carrier also shared that forward booking trends signal sustained strong travel demand into the 2024 financial year,  with revenue intakes at 118% of pre-COVID levels for its domestic operations, and 123% for its international division.

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