Fuel cost puts pressure on the Qantas results


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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