Australian carrier Qantas Airways announced Thursday that its unlikely to resume international flights before July 2021, as it suffers heavy losses due to the coronavirus pandemic.
The airline reported a 2.7 billion Australian dollars, 1.9 billon dollars, loss for the financial year that ended I June, and a 91% drop in profit from the prior year.
The company said it saw a revenue drop of 4 billion Australian dollars, 2.9 billion dollars in the second half of the financial year due to the COVID-19 crisis and associated border restrictions.
Qantas Group CEO Alan Joyce said in a statement that the second half of fiscal year 2020 was the toughest set of conditions the national carrier had faced in its 100 years’ but added that the company had the resilience to deal with them.
The coronavirus pandemic has hit the airline industry hard.
The International Air Transport Association, an airline trade organisation, said in July that it doesn’t expect global air travel to recover from the crisis until 2024.