Australia Qantas Announces Great Results. Price drops 7%.

Qantas has announced an interim underlying pre-tax profit of $1.43 billion in its first return to profitability since the coronavirus pandemic started. The airline's record first-half result was at the top end of its forecast, with revenue of $9.9 billion. All segments of its business turned profitable during the half year, led by Qantas Domestic, which recorded $785 million in earnings before interest and tax. Qantas expects travel demand to continue driving the recovery in 2023 and 2024, with domestic capacity set to exceed pre-Covid levels in the second half of 2023.

Good news is bad news again. Seems like an over reaction. Might be worth keeping an eye on.

Comment:

Recovered 15% on the overreaction but looks to be sliding again.

Will be interesting to see if it bounces again off that bottom linear range.