Qantas sees revenue growth opportunities despite capacity slowdown – observations from CEO Alan Joyce
Qantas is nearing its “most exciting year,” as the carrier reaches its centenary, and he says the carrier, according to its CEO Alan Joyce and he says it is in its “best financial position” and is “well positioned” to take advantage of opportunities while “managing challenges”. Mr Joyce was speaking at this week’s CAPA – Centre for Aviation Australia Pacific Aviation & Corporate Travel Summit, where he delivered a keynote address and spoke about the group’s ongoing development.
He explained the group is experiencing “a lot of growth”, “a lot of opportunities” and a growing corporate market share, with its Western Australia market share achieving a +13% year-on-year growth.
Mr Joyce noted that megatrends and big data are “changing everything”. He stated big data allows the group to tailor make its website for individual passenger needs and services, making it “easier” and add value for the passenger while completing the transaction, further noting “knowing this information can get you to cut through the noise”.
According to Mr Joyce, there are four megatrends influencing the carrier:
- New centres of demand: Placing a focus on Asia due to its rise in aviation;
- Digitalisation: How the company is using it to its advantage;
- Shift in consumer preferences: Adapting to changing preferences, particularly changing preferences by generation Y and Z;
- Climate change: Adapting and managing risks and may pose.
He highlighted that the group has become “very conscious” of currency changes through big data. Mr Joyce noted a weaker Australian dollar means overall added perplexity to the business, meaning the business must adapt to management of oil prices and movements in currency.
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