Qantas posts $1 billion six-month loss

Qantas has posted a $1.08 billion half-year loss, following a dramatic $6.9 billion plunge in revenue due to continued travel restrictions.

The net loss before tax was $1.47 billion, but the airline will be able to offset part of that against future tax bills.

The airline said it still has $4.2 billion in available cash to keep going until Australia’s international border reopens and domestic travel ramps up to more normal levels.

More to come.