Loyalty ProgramQantas's loyalty program, one of the world's most diverse airline loyalty programmes, is expected to further boost earnings growth with underlying EBIT expected to reach AUD500-550m in FY24F.
Market PositionQantas has increased its market share in both the domestic and international markets over the pandemic due to consolidation in the sector and its stronger financial position.
Shareholder ReturnsResumption of shareholder returns is expected to catalyse share price re-rating, with Qantas having been free cash flow positive for the past quarters.