Qantas Airways (QAN) AGM 2024 summary

Opening remarks and agenda

• The meeting opened with safety instructions and an acknowledgment of traditional custodians.

• The chair introduced the board, outlined the agenda, and confirmed a quorum.

• The meeting included director elections, financial and governance reports, shareholder Q&A, and voting procedures.

Financial performance review

• The group reported strong financial results, with an underlying profit before tax of AUD 2.08 billion, just below target.

• Qantas and Jetstar saw stable demand, with Jetstar outperforming expectations.

• International unit revenue is expected to fall as market capacity restores, but domestic demand and corporate travel are improving.

• Share buybacks totaling up to AUD 2.3 billion since September 2022 have been completed.

Board and executive committee updates

• John Mullen was introduced as the new chair, with several new directors and a new CEO, Vanessa Hudson.

• The board is undergoing further refreshment, with more new members expected.

• Andrew Finch, General Counsel and Company Secretary, was acknowledged for his service as he departs.