Australia’s biggest carrier, Qantas Airways Ltd., shared that improvement in global economy is surely going to nourish a recovery in business demand. The leisure travel is strong in the face of bigger borrowing costs.

Qantas Chief Executive Officer Alan Joyce said, “We are seeing very strong leisure demand despite interest rates having gone up”. He revealed this today in an interview broadcast on Sky Business Channel. He shared that Qantas Airways is still witnessing the business market recuperating as the confidence is returning back.

The borrowing costs are likely to be raised by the Reserve Bank of Australia subsequent to increasing its benchmark interest rate to 4.25% on April 6, which is the fifth move in the last seven months.

Domestic economic growth and gains in the Australian dollar stimulated travel demand are consequently leading to an increase the capacity of Sydney-based Qantas.

Joyce stated that the company had expected the business market to return and their intakes as far as business is concerned have been strong, as expected by them.