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Qantas raises fuel outlook to A$3.3 billion on oil surge

Qantas raised its fuel cost forecast to A$3.3 billion due to rising oil prices. The airline also delayed its share buyback plan amid market volatility.

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QANTAS AIRWAYS LTD has announced a significant upward revision to its fuel cost projections for the second half of fiscal year 2026. The national carrier of Australia cited heightened volatility in global energy markets following the escalation of conflict in the Middle East, which has caused a sharp spike in Brent Crude Oil prices.

A fisherman observes a Qantas Dreamliner taxiing at Sydney Airport during the airline's half-year earnings announcement in Australia, February 2026. REUTERS/Hollie Adams
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