Qantas Airways profits lower

AFP
August 23,2019

Sydney: Qantas Airways posted a 6.5-percent fall in annual net profit Thursday, attributing the slide in earnings to higher oil prices and a weaker Australian dollar.Despite record revenues, the...

Share Next Story >>>

Sydney: Qantas Airways posted a 6.5-percent fall in annual net profit Thursday, attributing the slide in earnings to higher oil prices and a weaker Australian dollar.Despite record revenues, the Australian flag carrier said its after-tax profit fell to Aus$891 million (US$604 million), down from Aus$953 million the previous year.

The 99-year-old airline was hit by an Aus$614 million fuel bill increase and Aus$154 million in foreign exchange impacts. But Qantas CEO Alan Joyce was upbeat about the results, which came on the back of healthy profits the previous year.


Advertisement

More From Business

Advertisement