Qantas has announced this morning that it has recorded a loss of $1.73 billion in revenue over the last financial year as a result of restricted travel due to COVID-19.

However, the loss is actually smaller than the previous year’s recorded deficit of $1.96 billion.

Prior to the current lockdowns, the domestic arm was operating at 92 percent capacity back in May. Since the start of the pandemic, the nation’s largest airline has announced 46 new domestic routes as a way for Australian tourism to still survive.

Qantas CEO Alan Joyce told ABC that despite the losses, he has high hopes of international travel resuming before Christmas.

“It’s obviously up to government exactly how and when our international borders re-open, but with Australia on track to meet the 80 percent trigger agreed by National Cabinet by the end of the year, we need to plan ahead for what is a complex restart process,” he said.

“Some people might say we’re being too optimistic, but based on the pace of the vaccine rollout, this is within reach and we want to make sure we’re ready.”

Joyce believes that the likely destinations of international travel for Australians will be the UK, North America, and parts of Asia with high vaccination rates. However, places such as Bali, Bangkok and Phuket will likely remain closed until the end of 2022.

Photo: By Fidel Fernando available HERE and used under a Creative Commons Attribution. The image has not been modified.