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Qantas Announces Share Buyback as Air Travel Demand Surges

  • Australian airline copped heat for delays, luggage chaos
  • Shares surge after carrier announces buyback, cuts debt
Bloomberg business news
Qantas Airways Buyback Plan Makes Sense, InvestSMART Says
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Qantas Airways Ltd. Chief Executive Officer Alan Joyce defended the airline’s performance and pushed back against calls for him to resign after months of travel chaos, with a post-pandemic surge in demand plagued by flight delays, cancellations and lost luggage.

“I think I’ve had more resignation requests than any other CEO or public figure out there,” Joyce, who has run the Australian carrier for almost 14 years, said Thursday when asked about labor union calls for him to quit. “The unions have been after my blood” for a long time, he added.