BUZZ-Qantas fails to fly high in 2023 amid scandal, scrutiny

Reuters2023-12-29

** Qantas Airways on track to end 2023 about 10% lower, after gaining about 20% in the previous year

** Australia's flag carrier underperforms the benchmark index , which has risen 8.2% so far this year

** Co faced reputational damage, board renewal, legal action and regulator scrutiny in 2023

** In late Feb, co's shares slumped after it said fares will moderate as airlines unlock capacity, even though it swung to profit in HY

** In early May, co named Vanessa Hudson its next CEO, making her the first woman to lead the century-old airline

** In late August, Qantas posted record annual earnings and announced a share buyback of A$500 mln ($342.25 mln)

** Soon after, the country's competition regulator sued the company, alleging sale of tickets on cancelled flights

** In early September, the carrier said its long-serving CEO Alan Joyce would bring forward his retirement

** The carrier said in October that its chairman Richard Goyder would step down in late 2024, before its AGM

** Also in October, the company dropped its A$611-mln bid to buy Alliance Aviation Services

($1 = 1.4609 Australian dollars)

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Qantas Airways

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

(Reporting by Echha Jain in Bengaluru)

((Echha.jain@thomsonreuters.com))

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