QF calls on American exec

FORMER American Airlines CEO Doug Parker has joined the Qantas Board effective today ( TD breaking news), replacing the long-serving Director Michael L’Estrange, who will formally step away from the carrier in Nov.

The airline’s Chairman Richard Goyder said Parker, who was the CEO of American Airlines from 2013 to 2021, will help Qantas maintain the expertise needed as it enters the important “next phase in its history”.

“There are few people with as much experience running airlines as Doug, he’s spent more than two decades as an airline CEO in North America, including eight years heading up the world’s largest airline,” Goyder said.

“The knowledge and perspective he’ll bring to the board will be a huge asset as we grow in the years ahead and while [Parker] was CEO of American Airlines, its relationship with Qantas expanded significantly as the two carriers formed a joint business to serve passengers better,” he added.

The major board recruit coincided with Qantas providing an updated forecast for the full year 2023 this morning, which included an estimated underlying profit before tax of between $2.425 and $2.475 billion.

The carrier also revealed that forward booking trends indicate strong travel demand continuing into FY24, with revenue intakes at 118% of pre-COVID levels for its domestic operations, and 123% for its international division.

While improved capacity, lower jet fuel price predictions and lower costs at scale have been flagged over coming months, CEO Alan Joyce cautioned that international seat numbers still face some turbulence ahead.

“The industry remains capacity constrained and the travel category remains strong, so there’s still a mismatch between supply and demand that’s likely to persist for some time - especially for international flying,” Joyce noted.