Qantas Declines for Second Day on Yield Forecast: Sydney Mover
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Qantas Airways Ltd. had its largest two-day loss since June 2012 after the nation’s biggest carrier said last week it expects the lowest yields in more than a decade for passenger flights.
The stock dropped 5.6 percent to A$1.35 at the 4:10 p.m. close in Sydney today. Qantas declined 3.4 percent on Oct. 18 after Chief Executive Officer Alan Joyce said he expects group yield, a measure of earnings for each kilometer flown by a passenger, to fall 2 percent to 3 percent in the six months ending December from a year earlier.