Qantas Sees Airfares Moderating As Capacity Returns To Pre-COVID Levels: Report - Qantas Airways (OTC:QABSY)

Australia’s Qantas Airways Ltd. QABSY sees its airfares moderating with time as its capacity returns after the COVID-19 pandemic.
So far, Airlines have been witnessing high airfares globally as travel rebounds faster than expected, Reuters reported.
The company expects to reach 100% of its pre-pandemic capacity for international networks by March 2024, the report read, citing CEO Alan Joyce.
Additionally, the company is expected to restore 115% of its pre-pandemic capacity for domestic operations by next year, mentioned the report.
Also See: Australia's Qantas Plans Expansion Of International Network With More Aircrafts, New Routes
On May 31, Qantas said it is gearing up to restart flights to New York for the first time since 2020, as New York is a favorite destination for Australians traveling for leisure and business.
From June 14, the company will operate three weekly flights from Sydney to New York, increasing to four per week from October.
Last month the company also said it would add around one million seats to its international network starting late October this year.
The relaunch of the New York flights will bring Qantas closer to its goal of returning to 100% of its international network pre-COVID capacity, the company said in a release.
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