Qantas Profit Falls Nearly 14 Percent as Middle East War Adds $420 Million Fuel Hit

Qantas reported a 13.8 percent drop in underlying profit to $2.06 billion due to increased fuel prices and the war in the Middle East. Higher jet fuel costs associated with the conflict reduced earnings by approximately $420 million. Despite these challenges, Chief Executive Vanessa Hudson described the result as “strong,” noting a decline in business and consumer confidence affecting travel demand.

• Qantas’ underlying profit fell 13.8% to $2.06 billion.
• Profit after tax decreased by 19.7% to $1.29 billion.
• Higher jet fuel costs due to the Middle East conflict impacted earnings by about $420 million.
• Business and consumer confidence declined in the final four months, reducing travel demand.
• Domestic flying still contributed $1.44 billion in earnings.