Aug 27, 2026 – 9.11amQantas has reported a slide in profits with no let-up in a fuel price spike caused by conflict in the Middle East, saying it would permanently scrap a $150 million share buyback that it had put on hold in April.The airline put the cost of the war between Iran and the United States, which began in February with a missile attack on Tehran, at $420 million.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Qantas profits slide as Iran war fuel price spike delivers $420m hit
The airline expects fuel costs to remain high, but revenues will grow between 8 per cent and 10 per cent this year driven by fewer seats and higher airfares.
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