Qantas Profits Slump as Soaring Jet Fuel Costs Weigh on Earnings
Australian carrier Qantas reported a sharp decline in full-year profits, primarily driven by surging jet fuel costs exacerbated by Middle East geopolitical tensions. Despite the earnings miss, the company accelerated its fleet renewal program and saw its shares rise following the release.
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Qantas profits dip to lowest in four years as jet fuel costs climb after Iran conflict
Airline declines to predict impact of new carry-on luggage charge on Jetstar revenue or ticket sales, saying it is offering customers ‘choice’ Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Qantas has recorded its lowest pre-tax profits in four years, at $2.06bn, after the US war on Iran pushed up its fuel costs by $610m. Australia’s national airline also announced it would phase out its Airbus A380 models as it prepares t...
By Luca Ittimani
Read full article →Qantas profits dip following Middle East war
Qantas profits have fallen more than 13 per cent in the previous financial year, with the war in the Middle East fueling the slump.
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