Qantas Warns Weaker Aussie Will Trim Visitors’ Air Fare Discount
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Visitors to Australia will get a smaller airfare discount compared to outbound travelers as a weakening currency makes the country a cheaper holiday destination, according to Qantas Airways Ltd.
The carrier’s international unit will probably earn closer to half of its sales from local purchases and half from overseas as the Australian dollar weakens, Chief Financial Officer Gareth Evans said at a conference in Sydney yesterday. It’s currently making only about 35 percent of revenue offshore, he said, as the strength of the currency raises the cost of holidaying in the country and turns off inbound travelers.