Qantas posts annual loss of $1.41 billion due to COVID-19

SYDNEY. KAZINFORM Australia's Qantas Airways Ltd on Thursday reported an annual net loss of AU$1.96 billion ($1.41 billion) as a result of the COVID-19 pandemic, which forced border closures in March.

Qantas also posted an underlying profit before tax – the most widely used measure by companies to evaluate their performance – of AU$124 million between July 1, 2019 and June 30, 2020, which is 91 percent less than that of the previous financial year, EFE-EPA reports.