$1b Recovery Plan
Underlying Income Statement summary
$M
FY22
FY21
Pre-COVID
FY193
Comments vs FY19 and FY21
Net passenger revenue
5,951
3,766
Net freight revenue
1,963
1,316
15,696 Movement largely in line with movement in passengers carried
971
Increase driven by e-commerce trends and international belly space
availability
Other revenue
1,194
852
1,299 Increase vs FY21 due to growth of Frequent Flyer revenue
Total Revenue
9,108
5,934
17,966
Operating expenses (excluding fuel)
(6,853)
(4,560)
(10,599)
Increase vs FY21 due to increased flying, as well as restart and readiness
costs
Fuel
(1,848)
(835)
(3,846)
Increase vs FY21 due to greater consumption with increased flying and
higher fuel prices
Share of net (loss)/profit of investments
[126]
(129)
23
accounted for under the equity method
Driven by Jetstar Japan share of losses as a result of COVID-19
restrictions in Japan
Underlying EBITDA
281
410
3,544
Depreciation and amortisation¹
(1,839)
(1,883)
(1,936)
Decrease vs FY19 due to exit of 747-400 fleet and impairment of A380s,
offsetting the impact of 787-9 introduction
Underlying EBIT²
(1,558)
(1,473)
1,608
Net finance costs
[301]
(301)
(282) Higher gross debt in FY22 vs FY19, largely offset by reduced cost of debt
Underlying (Loss)/Profit Before Tax
(1,859)
(1,774)
1,326
1. Includes Impairments of ($38) m in FY22 and [$13)m in FY21. 2. Underlying Earnings Before Net Finance Cost and Income Tax Expense (Underlying EBIT). 3. FY19 has not been restated for the IFRIC Cloud Computing decision.
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