Fuel cost puts pressure on the Qantas results

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The Australian aviation group Qantas saw its profit fall in the past financial year. This was partly due to higher fuel costs and a weak Australian dollar. The performance in the domestic market also disappointed.

Qantas recorded an underlying pre-tax profit of 1.3 billion Australian dollars in the fiscal year that ended at the end of June, equivalent to almost 796 million euros. That was 1.6 billion Australian dollars a year earlier. The turnover of Qantas, which is almost 100 years old, is increasing by 5 percent to around 18 billion Australian dollars.

The profit on the domestic market, the most important for Qantas, decreased by 3.3 percent. The company did better internationally. Qantas also announced a share buyback program.


By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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