Qantas should not pay back taxpayers’ money, says Anthony Albanese’s government after the airline recorded a $2.47 billion profit
Qantas should not return taxpayers’ money, Anthony Albanese government says after airline posted $2.47 billion profit
- Qantas posted an underlying profit of $2.47 billion in the past financial year
- Airline under pressure to refund money from government during Covid
Treasurer Jim Chalmers has made suggestions that Qantas should pay back the money it received from the government after the airline posted record profits.
Qantas on Thursday reported an underlying profit of $2.47 billion for the past fiscal year, compared to a loss of nearly $2 billion the year before.
But the Flying Kangaroo is under pressure in the wake of the results to repay money it received from the federal government at the height of the Covid-19 crisis.
It received $2.7 billion from taxpayers during the pandemic, including $900 million from the JobKeeper program.
The airline’s CEO Alan Joyce said it was just eleven weeks away from bankruptcy at the time.
But Dr Chalmers said Qantas’ profits showed the tourism industry was experiencing a strong recovery from the pandemic.
Treasurer Jim Chalmers has made suggestions that Qantas should pay back the money it received from the government after the airline posted record profits (pictured is Qantas CEO Alan Joyce and his husband Shane Lloyd)
“When these funds were provided by the previous government, there was no arrangement or agreement that they would be repaid in any form,” he told ABC Radio on Friday.
“What[the profits]reflect is the fact that the Australian tourism industry is a major contributor to our economy and that’s a good thing.
‘It is a major employer in our economy.’
Mr Joyce said the JobKeeper money went from the government to the employees.
“When we make money, we pay corporate taxes and get there faster,” he told ABC’s 7:30 program.
“Do our people who got the money for JobKeeper have to pay it back?
Qantas received $2.7 billion from taxpayers during the pandemic, including $900 million from the JobKeeper program (pictured shows Joyce with Anthony Albanese and his partner Jodie Haydon)
“I’d say no because that’s asking to pay it back in a tough time, so what money are we paying back exactly?”
Mr Joyce, who has been summoned to appear next week before the Australian Senate’s cost-of-living inquiry, said economy rates have fallen by 12 per cent since peaking last December.
Opposition leader Peter Dutton said Mr Joyce had managed the airline well during a difficult period, including the pandemic.
“It was a tough time for those airlines to be able to keep the business afloat during that period with the support of a lot of taxpayers’ money, I think that’s something that (Mr. Joyce) is taking note of,” he told Nine’s Today programme.