• Despite reporting annual losses for the third consecutive year, the national carriers of Australia and New Zealand claim that the worst of the coronavirus problem is now behind them.
• With the pandemic’s “existential crisis now over,” according to Qantas, demand is rising.
• Since March, Air New Zealand claims to have seen “a very robust improvement in bookings and revenues.”

 Despite reporting annual losses for the third consecutive year, the national carriers of Australia and New Zealand claim that the worst of the coronavirus problem is now behind them.

With the pandemic’s “existential crisis now over,” according to Qantas, demand is rising.

Since March, Air New Zealand claims to have seen “a very robust improvement in bookings and revenues.” Both nations have enacted some of the tightest travel restrictions against pandemics.

In a statement released on Thursday, Qantas stated that its underlying loss before tax had increased from the prior year to A$1.86bn ($1.3bn; £1.1bn) in the year ending in June.

The business claimed to have reduced its net debt to a better than anticipated level. A$3.94bn. “The speed and scale of that turnaround have been amazing,” Qantas CEO Alan Joyce said.

While the entire industry has been dealing with sick leave and labor shortages over the previous three months, Mr. Joyce continued, “Our personnel has done a great job throughout the restart and our clients have been tremendously patient.”

In February, Australia once again allowed visitors from abroad. That signaled a conclusion after almost two years.

As borders reopened, Qantas struggled to resume its services, much like the majority of the world’s airlines.

To address a severe labor shortage, it requested senior executives to work as baggage handlers at the airports in Sydney and Melbourne.

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