SYDNEY, Aug. 27 (Xinhua) -- Qantas said on Thursday that its profit fell by almost 20 percent in the 2025-26 financial year amid a spike in fuel prices driven by the conflict in the Middle East.
The Qantas Group, which includes Qantas and budget carrier Jetstar, said in its full-year results that statutory profit after tax fell by 19.6 percent year on year to 1.29 billion Australian dollars (about 927 million U.S. dollars), while underlying profit before tax fell by 13.8 percent year on year to 2.06 billion Australian dollars.
Chief Executive Officer Vanessa Hudson said the group's fuel bill increased by 610 million Australian dollars because of the Middle East conflict, but fare and capacity adjustments and other mitigations limited the impact on earnings to 420 million Australian dollars.
"This year was defined by two very different operating environments, as a result of the conflict in the Middle East. In the first half, Qantas and Jetstar were both performing strongly, with demand growing across the domestic and international networks," Hudson said.
"The final four months of the year saw business and consumer confidence fall as the conflict and economic headwinds created uncertainty, and some large corporates and government responded by managing their costs more tightly, reducing demand for travel."
The Qantas Group said it took delivery of 17 new aircraft in 2025-26 and expects delivery of up to 31 aircraft in 2026-27, including the first of 12 Project Sunrise Airbus A350-1000ULR aircraft that will operate non-stop flights from eastern Australia to London and New York. ■