Qantas' loyalty division pushes back earnings growth target by two years

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Qantas Airways Ltd has pushed back the earnings growth target for its loyalty division by two years due to the pandemic's impact on the business, the head of its frequent flyer business said on Wednesday.

FILE PHOTO: The tail of a Qantas 747 jumbo jet, is pictured before its departure, as Qantas retires its remaining Boeing 747 planes early due to the coronavirus disease pandemic, at the Sydney Airport in Sydney, Australia, July 22, 2020. REUTERS/Loren Elliott

The airline now expects to achieve its target of A$500 million to A$600 million of annual underlying earnings before interest and tax in the financial year ending June 30, 2024, Qantas Loyalty Chief Executive Olivia Wirth told a CAPA Centre for Aviation event. It has been creating new ways for members to earn points from financial services companies and retail partners, which pay the airline to offer points to their customers. Qantas’ frequent flyer programme has 13.4 million members.She said two-thirds of Qantas frequent flyer points were earned on the ground, which includes credit card spending.

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