Qantas Posts Lower Profit and Accelerates A380 Exit
Qantas reported a 14 percent drop in annual underlying profit after higher fuel costs impacted earnings. Despite the profit decline, the airline issued an upbeat revenue outlook and announced plans to retire its Airbus A380 fleet starting in 2028.
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QANTAS AIRWAYS LTD-SPN ADR posted a 14% fall in annual underlying profit to A$2.06 billion ($1.48 billion) on Thursday afternoon, while bringing forward the retirement of its Airbus A380 fleet to 2028. The profit drop reflects surging fuel costs driven by conflicts in the Middle East. The result edges past the Visible Alpha consensus estimate of A$2.00 billion.
