Qantas says profits slump as fuel costs surge
(AFP File Photo)
Australian airline Qantas said on Aug. 27 that it expects fuel costs to stay high, after the Middle East war pushed up prices and led to a slump in annual net profits.
Despite the rising cost of flying, the airline said "resilient" travel demand would boost revenue in the months ahead as people prioritise travel.
Jet fuel prices will remain elevated over the July-December period, it forecast, vowing to pursue mitigating actions such as hedging for crude oil price changes.
