QANTAS LOYALTY Qantas Loyalty expanded significantly during the half, adding more members to reach 15.8 million and adding several major program partners. Value of bookings via Qantas Hotels and Holidays increased by around 30 per cent compared with 1H23; TripADeal bookings grew by more than 60 per cent.
The number of Qantas-branded home and motor insurance policies increased by a factor of 2.5 times compared with 1H23 and financial services continued to grow, with more than 100,000 credit card acquisitions during the half and a 4 per cent increase in the value of purchases on cards earning Qantas Points.
Underlying EBIT grew by 23 per cent compared with 1H23 to reach $270 million. The strong performance in calendar 2023 meant Loyalty achieved its earnings target of $500 million per annum six months ahead of schedule.
The Group is still working to finalise improvements to the Frequent Flyer program that will represent a significant investment for members, with the aim of announcing them by April.