Board Change • Jun 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non- Executive Director Alison Watkins was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (41% accrual ratio). Minor Risks High level of debt (354% net debt to equity). Paying a dividend despite having no free cash flows. Board Change • Jun 09
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non- Executive Director Alison Watkins was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
Qantas Airways Limited Operating Guidance for the Second Half of 2026 Qantas Airways Limited provided operating Guidance for the Second Half of 2026 given the conflict in the Middle East. For the period, Qantas Airways Limited announced that Group International unit revenue (RASK) growth is now expected to be 4% to 6%, double previous RASK guidance. This includes the 50% of revenue for 4Q26 that was sold prior to the conflict commencing. Group Domestic unit revenue (RASK) growth for 2H26 is expected to be approximately 5%, and 6% for 4Q26. The revised RASK outlook assumes current demand levels are sustained across Domestic and International. Announcement • Feb 04
Japan Airlines Co., Ltd. (TSE:9201) signed a non-binding Memorandum of Understanding to acquire an additional 33.32% stake in Jetstar Japan Co., Ltd. from Qantas Airways Limited (ASX:QAN). Japan Airlines Co., Ltd. (TSE:9201) signed a non-binding Memorandum of Understanding to acquire an additional 33.32% stake in Jetstar Japan Co., Ltd. from Qantas Airways Limited (ASX:QAN) on February 3, 2026. Upon completion, Japan Airlines Co., Ltd. will own 80.42% stake in Jetstar Japan Co., Ltd. The agreement expected to be reached in July 2026. The transaction is subject to reaching agreement and regulatory approvals. The transaction is expected to close in 2027. Announcement • Nov 09
Qantas Group Appoints Alison Watkins as an Independent Non- Executive Director The Qantas Group announced the appointment of Alison Watkins as an independent Non- Executive Director, as part of further renewal of its Board. Ms. Watkins brings deep experience as a senior executive and Director across a range of industries including manufacturing, retail, financial services, agriculture and consumer goods. She is currently a member of the Reserve Bank Monetary Policy Board, a Director of CSL, Wesfarmers and Chancellor of the University of Tasmania. Prior to that, her senior executive roles included Group Managing Director of Coca-Cola Amatil Limited, where she was responsible for operations in Australia, New Zealand, Indonesia and the South Pacific, and Managing Director and CEO of Graincorp Limited. Announcing the appointment, Qantas Group Chairman John Mullen said Ms. Watkins' skills and experience will add to the diverse skills and experience of the other Directors when she joins the Board in early March 2026. Alison Watkins - Career Summary: Recent Non-Executive Roles: PGA of Australia - Non-Executive Director (2022 - Present), University of Tasmania - Chancellor (2021 - Present), CSL - Non-Executive Director & Chair Audit & Risk Committee (2021 - Present), Wesfarmers - Non-Executive Director (2021 - Present), Reserve Bank of Australia Board Member (2020 - 2025) and Monetary Policy Board Member (2025 - Present), Business Council of Australia - Board Member (2016 - 2021), Centre for Independent Studies - Board Member (2011 - 2024), Australian Institute of Company Directors - Board Member (2009 - 2011), ANZ Bank - Non-Executive Director (2008 - 2014), Woolworths Australia - Non-Executive Director (2007 - 2010). Recent Executive Roles: Coca-Cola Amatil - Group Managing Director (2014 - 2021), GrainCorp - Chief Executive Officer /Managing Director (2010 - 2014), Bennelong Group - Chief Executive Officer (2008 - 2010), Mrs. Crocket's Kitchen - Executive Chairman (2006 - 2007), Berri Limited - Chief Executive Officer & Director (2002 - 2005), ANZ Bank - Various roles (1999 - 2002), McKinsey & Company - Various roles (1989 - 1998). Announcement • Sep 26
Qantas Airways Limited, Annual General Meeting, Nov 07, 2025 Qantas Airways Limited, Annual General Meeting, Nov 07, 2025. Location: lawson ballroom, amora hotel brisbane, 200 creek street, brisbane queensland 4000 Australia Announcement • Sep 09
Qantas Airways Limited to Report Fiscal Year 2026 Results on Aug 27, 2026 Qantas Airways Limited announced that they will report fiscal year 2026 results on Aug 27, 2026 Announcement • Sep 01
Qantas Airways Limited Appoints of Kate Towey as a Company Secretary, Effective 01 September 2025 Qantas Airways Limited advised of the appointment of Kate Towey, Qantas Group General Counsel and Company Secretary, as a Company Secretary, effective 01 September 2025. In accordance with ASX Listing Rule 12.6, Kate Towey is nominated as an additional person responsible for communication with the ASX in relation to Listing Rule matters. Announcement • Jun 11
The Qantas Group to Close Jetstar Asia The Qantas Group announced a strategic restructure which supports its historic fleet renewal program and strengthens its core businesses in Australia and New Zealand. Closure of Jetstar: Asia Jetstar Asia, the Group's Singapore-based low-cost subsidiary, has faced growing challenges in recent years and the decision has been made, together with majority shareholder Westbrook Investments, to close the airline. Despite delivering exceptional customer service and operational reliability; Jetstar Asia has been impacted by rising supplier costs, high airport fees, and intensified competition in the region. This has fundamentally challenged the low-cost airline's ability to deliver returns comparable to the stronger performing core markets in the Group. The airline is expected to post a $35 million underlying EBIT loss this financial year, prior to the closure decision. Jetstar Asia will continue to operate flights for the next seven weeks on a progressively reduced schedule, before its final day of operation on 31 July 2025. The closure of Jetstar Asia only impacts the intra-Asia routes operated by the airline from its base in Singapore. It does not impact Jetstar Airways' domestic and international operations in Australia and New Zealand or Jetstar Japan. Jetstar Airways will continue to fly from Australia into Asia including to all its popular destinations across Singapore, Thailand, Indonesia, Vietnam, Japan and South Korea. Jetstar Asia customers with existing bookings on cancelled flights will be offered full refunds and the Group will look to reaccommodate customers onto other airlines where possible. All affected Jetstar Asia employees will be provided redundancy benefits as well as employment support services. Qantas is also actively working to find job opportunities across the Group and with other airlines in the region. Singapore remains a critical hub for the Qantas Group as its third largest international airport. Qantas also offers connections from Singapore through nearly 20 codeshare and interline partners to a variety of destinations across Asia. With the support of Qantas, Jetstar Asia will continue to meet its financial obligations to suppliers, employees and customers. Board Change • Sep 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director John Mullen was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 12
Qantas Airways Limited to Report First Half, 2025 Results on Feb 27, 2025 Qantas Airways Limited announced that they will report first half, 2025 results on Feb 27, 2025 Announcement • Sep 20
Qantas Airways Limited, Annual General Meeting, Oct 25, 2024 Qantas Airways Limited, Annual General Meeting, Oct 25, 2024. 
