Qantas reports $2.06bn before-tax profit amid $610m fuel hit
Qantas just reported its lowest profit in four years, $2.06 billion before-tax, for the year ending June 2026.
A big reason? Jet fuel costs shot up by $610 million after the U.S.-Iran conflict, eating into earnings and leaving Qantas with $330 million less than last year, even though it had a record-breaking first half.
Qantas retires A380s, adds new aircraft
To stay ahead, Qantas is saying goodbye to its A380s and adding new planes.
International flights still made $650 million thanks to increased capacity, but higher fuel prices took a bite out of profits.
On the bright side, its loyalty program grew 12% (shoutout to Uber being the fastest-growing source of points), and lots of travelers switched to Qantas after other airlines canceled flights.
Jetstar also kept things affordable: one-half of its domestic passengers paid under $150 per flight.