Qantas reveals another $100m in flight credits
Qantas says it is still sitting on more than $500 million worth of its customers’ money in flight credits, but that it could not quantify the exact amount because it changes daily.
In multiple exchanges between senior company officials including chief executive Alan Joyce and senators during an inquiry into the cost of living, Qantas defended its handling of a stockpile of flight credits blamed on pandemic-era cancellations and the airline’s efforts to fix flight delays, lost luggage and other customer service problems.
Qantas boss Alan Joyce fronts the Senate inquiry in Melbourne. AAP
Labor Senator Tony Sheldon asked Qantas boss Alan Joyce to clarify reports in The Australian Financial Review about unused flight credits, which Qantas stopped reporting in their entirety in its most recent company results.
Transport Minister Catherine King said Qantas had performed well below expectations, to which Mr Joyce replied that Qantas had addressed the problems it had been experiencing.
“We did fix it,” he said adding Qantas’ board sees the progress and recognises it.
“The board aren’t viewing it the way you are Senator, they’re seeing Qantas performing better,”
At December 31, the airline said it was holding $700 million in unused credits from the COVID-19 period that would expire at the end of the year unless flights were booked for travel to the end of 2024.
But when it reported last week, the company listed only $370 million worth of credits belonging to Australians in its accounts. Qantas executives conceded to the inquiry that amount did not include unused credits for subsidiary Jetstar or international customers.
Mr Joyce and Jetstar chief executive Stephanie Tully admitted that there was at least another $100 million owed
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