Qantas, Australia’s national airline, is on track to achieve a record profit of $2.48 billion for the latest financial year in large part due to Ultra-Long Haul flights, such as Project Sunrise, that are expected to bring in an additional $400 million in earnings to the airline.
Qantas is predicting a massive change to its fleet and a significant lift in revenue from its Ultra-Long Haul Flights. Project Sunrise, in particular, will result in benefit to the airline’s bottom line as it proposes to fly direct to Europe and North America from Australia.
“It is anticipated that Project Sunrise will yield considerable additional profit, amounting to an estimated $400 million EBIT or more for the first year that all 12 aircraft are operating,” Qantas said in a statement outlining their 2030 strategy.
Qantas Group chief executive Alan Joyce stated that the airline’s long-term strategy – which sees the scheduling of inaugural flights to take off in late 2025 and reduce travelling time between points by up to four hours compared to one-stop routes – is proof of the business’s transformation since the onset of the pandemic.
“The business has undergone a structural transformation in light of the Covid pandemic, now serving markets that have likewise evolved,” he said.
“The next-generation aircraft that have begun arriving will revolutionize our network in the upcoming years due to the new technology being essential to our plan. With this, we will be able to fulfill our patrons better, diminish our expenses through cheaper operating costs, and secure some novel competitive edges.”
