Next-gen aircraft helps Qantas bank a tidy half year profit

By Andrew Curran.

Qantas has trousered a tidy AUD925 million (USD657.3 million) statutory after-tax profit for the six months to December 31, 2025, an outcome CEO Vanessa Hudson attributes to an influx of new next-gen aircraft.

“We're already seeing the benefits from the next-generation aircraft that are flying,” said Hudson yesterday, February 26, 2026. "These new aircraft are not only improving the experience for our customers and opening up new opportunities for our people, they’re also helping drive our financial performance.”

The Qantas Group, which includes Jetstar, took delivery of 18 aircraft in the first half of this financial year, including one Jetstar branded A320-200neo and two A321-200NXs, four QantasLink branded A220-300s, and two Qantas A321-200XLRs.

Additionally, the Qantas Group acquired nine mid-life aircraft in the same period, including one A319-100 now operating in Western Australia; three B737-800s dry-leased from Singapore Airlines and flying in Qantas colours; two A330-300s dry-leased from Finnair; and three DHC-8-Q400s purchased from WestJet that are now operating for QantasLink.

“By consistently delivering strong earnings growth we're able to continue investing in the largest fleet renewal in our history,” added Hudson.

Vanessa Hudson heaps praise on Jetstar

Revenue across Qantas domestic, Qantas international, and Jetstar Group were all up. Jetstar’s half yearly revenue was up 8% to AUD3.1 billion (USD2.2 billion), Qantas domestic revenue was up 5% to AUD4.2 billion (USD3 billion), and revenue from Qantas international also increased 5% to AUD4.9 billion (USD3.5 billion).

While the results disclosed that the B787-9 operated routes were the most profitable in the Qantas network, Hudson saved special praise for Jetstar, the group’s low-cost carrier. Jetstar's entire operation (and finances) has been reshaped by the steady stream of A321NXs arriving since mid-2022.

"Around 60% of Jetstar's increase in profitability in the half was driven by its new aircraft, through a combination of growth, new network opportunities and the redeployment of existing aircraft onto other routes,” she said.

Compared to Jetstar’s older A320-200s, the new A321NXs are delivering significantly improved fuel efficiencies, lower maintenance costs, and scale efficiencies, and superior depreciation costs.

That, combined with better narrowbody utilisation as the fleet increases, and the redeployment of B787-8s onto high-demand routes to Japan and South Korea, has contributed to around 60% of Jetstar’s EBIT growth.

"This gives us confidence in the benefits that will flow once Qantas’ new aircraft reach scale,” said Hudson.

More new Qantas Group aircraft arriving

The Qantas Group expects another six new aircraft during this half year and a further 30 arriving over the next 18 months.

The company has orders for a slew of new aircraft, including four B787-9s and eight B787-10s from Boeing, and eighteen A220-300s, twenty-four A350-1000s, and around 115 neo narrowbodies from Airbus.

In the 12 months to June 30, 2027, the Qantas Group expects delivery of four A350-1000ULRs, eight A321-200XLRs, ten A220-300s, three A321 freighters, and four A320-200neos. The first of the Project Sunrise A350s are expected by the end of calendar 2026, with the ultra-long range flights slated to start in mid-2027.

In addition, the Qantas Group continues to source mid-life aircraft, often targeting particular types to support particular niches in the business, such as the recently acquired A319s and incoming E190s to assist with fly-in-fly-out work in Western Australia and ex-WestJet Q400s for QantasLink’s propellor operations on the east coast.

The investor presentation accompanying yesterday’s results release also disclosed that Qantas will purchase another A330-300 between now and July “to support existing A330 operations.”

“Some of these new aircraft will replace older aircraft, while some will support growth by opening up new routes, like the ultra-long range A350s, which will operate Project Sunrise flights,” said Hudson.

Qantas expects around a revenue per available seat kilometre premium of about 22% on its direct Project Sunrise flights to London compared to the current one-stop flights.

Photos: Qantas.

Contact the writer: andrew@aerosouthpacific.com