• Underlying Profit Before Tax of $1,456M, up 5.1% vs H1 2025
• Statutory Profit After Tax of $925M, up 0.2% vs H1 2025
• Interim dividend of 19.8 cents per share, up $50M from H1 2025

The Qantas Group reported Underlying Profit Before Tax of $1,456 million for the first half of fiscal year 2025/26, a 5.1% increase compared to the same period in the prior year. Statutory Profit After Tax was $925 million, up 0.2% year-over-year. The Group's integrated portfolio continued to drive value, with 4% higher Group ASKs driven by fleet renewal and expansion. Qantas Domestic, Qantas International, and Qantas Loyalty all delivered strong performances, with the Loyalty segment maintaining its positive momentum. The Group's fleet renewal program progressed with the delivery of new, more efficient aircraft. Alongside fleet investment, the company continued to enhance the customer experience. Group Domestic operations achieved an Underlying EBIT margin of 18%, while Group International (including Freight) had a 7% operating margin. The closure of Jetstar Asia and the planned divestment of Jetstar Japan support the Group's strategy of recycling capital to improve long-term returns. The Group's Financial Framework remains core to its strategy, with Net Debt at the lower end of the target range. The Board has announced a $300 million base dividend, up $50 million from the prior period, and an additional distribution of up to $150 million via an on-market share buy-back.

The Group expects to maintain its strong financial position, with Net Debt targeted to remain within the range of $5.6 billion to $7.0 billion for the 2025/26 financial year.

Qantas remains focused on executing its strategy, which includes further investment in fleet renewal, customer experience enhancements, and optimizing its portfolio of businesses to drive long-term sustainable returns. The company is well-positioned to capitalize on the continued recovery in travel demand.