Qantas profit tumbles as fuel costs soar

Updated August 27, 2026 — 9:02am,first published 8:53amQantas profits have taken a hit as rising fuel costs outpaced the benefit of sustained demand for international travel.Rising fuel costs outpaced the benefit of sustained demand for international travel.Peter RaeThe airline posted a 13.8 per cent fall in underlying pre-tax profit of $330 million in the year ended June 2026. Underlying pre-tax profit is $2.06 billion, down from $2.39 billion in 2025. The company said its fuel bill jumped by over $600 million as it was hit hard by the ramifications of the Middle East conflict.CEO Vanessa Hudson said: “The final four months of the year saw business and consumer confidence fall as the conflict and economic headwinds created uncertainty.”Qantas said this forced some large corporates and gov