What Profit? Investors Dump Qantas as Fuel Bill, Wages Rise
- Australian carrier’s shares slide most in almost five months
- Qantas says fuel, wages and plane leases will be more onerous
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Qantas Airways Ltd. dropped the most in almost five months on concern rising fuel prices and costs will erode earnings, even after the Australian airline reported record annual profit.
The fuel bill -- among the biggest expenses for any airline -- will probably jump 21 percent this financial year, the carrier said Thursday. Wages and aircraft leases will also become more onerous, it said, stoking concern a run of record earnings may falter.