• Strong performance across the Group's integrated portfolio
• Delivered $1.8b in operating cash flow and $1.46b in Underlying Profit Before Tax
• Announced shareholder distributions of up to $450m including fully franked dividend and on-market buy-back

The Qantas Group has reported a strong performance across its integrated portfolio in the first half of FY26. The company delivered Underlying Profit Before Tax of $1.46b and operating cash flow of $1.8b. Statutory Profit After Tax was $925m, with Statutory Earnings per Share of 61 cents. The Group's net debt stood at $5.6b, within the target range of $5.6-7.0b for FY26, and the company had total sources of liquidity exceeding $12.6b. Qantas distributed $400m in fully franked dividends in 1H26 and announced further shareholder distributions of up to $450m, including a fully franked base dividend of 19.8 cents per share ($300m total) and up to $150m of on-market share buy-back. The Group continued to invest in its fleet, with the delivery of 18 aircraft in 1H26, including 9 new aircraft. Qantas also made significant investments in its people and culture, expanding its frontline workforce by 4% and enhancing its leadership development programs, safety and engineering academies, and employee initiatives. The company's customer experience also saw improvements, with a 4 percentage point uplift in Qantas' reputation score, 5 and 4 percentage point uplifts in Qantas and Jetstar's Net Promoter Scores, respectively, and the introduction of new customer-focused initiatives across the network.

The Qantas Group expects to deliver strong earnings growth in FY26, supported by its integrated portfolio, fleet renewal program, and investments in its people, culture, and customer experience.

The Qantas Group remains focused on its customers, people, and shareholders, while delivering strong earnings growth to invest in the largest fleet renewal in the company's history. The Group is well-positioned to capitalize on the recovery in travel demand and continue its transformation to become an even more sustainable and customer-centric airline.