Qantas Airways names new CEO on Jetstar

Qantas Airways names new CEO on Jetstar

Qantas Airways resigned as chief executive on Jetstar after spending 23 years with the group, according to Reuters- Australia's Qantas Airways on Friday.

The airline said that Evans will be with the group to work on key projects before leaving in 2023, and that an internal recruitment process was underway to appoint a new CEO for Jetstar.

When the current CEO of Qantas, he stepped down, investors and analysts saw Evans as one of the top contenders to replace Alan Joyce.

Several other potential successors have left for CEO roles elsewhere over the years, due to Joyce's unusually long tenure.

Qantas, which is operating domestic capacity above pre-pandemic levels, said it would cut 15% of its local capacity for three months from July and 10 percentage points during October-March to boost fares due to elevated oil prices.

A country's biggest airline said its net debt was expected to fall to around A $4 billion $2.76 billion by June 30, due to a resurgence in domestic and international travel demand.

The group now sees its net debt in a range from A $4.2 billion to A $5.2 billion, down from the previous range of A $4.4 billion to A $5.5 billion. Qantas also stated that it was on track to return to profit in fiscal 2023.