Qantas Hands Investors More Cash as Profit Beats Estimates
- CEO Joyce announces fourth stock buyback in two years
- Airline plans direct Sydney to London flight by 2022
Qantas CEO Joyce on Long Range Flights, Profits
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Qantas Airways Ltd. announced its fourth stock buyback in two years as the airline reported better-than-expected annual earnings, marking the end of a three-year turnaround under Chief Executive Officer Alan Joyce.
The Australian carrier, reporting its second-highest profit on record, said Friday it will repurchase as much as A$373 million ($295 million) of stock even as the shares traded near an all-time high. Qantas has now returned A$2.1 billion to shareholders since late 2015.