Qantas lifts fuel cost forecast as Middle East war jolts oil markets [Yahoo! Finance Canada]
QANTAS AIR LTD S/ADR NEW (QABSY)
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Source: Yahoo! Finance Canada
April 14 (Reuters) - ?Australia's Qantas Airways said on Tuesday it has raised its fuel cost outlook and has not started its ?planned share buyback, citing sharply higher and volatile jet fuel prices after the war in the Middle East cut oil supply. The airline said jet fuel prices have more than doubled, lifting its estimated fuel bill for the second half of fiscal 2026 to between A$3.1 billion ?and A$3.3 billion ($2.20 billion to $2.34 ?billion), up from its prior forecast of A$2.5 billion. The surge underscores how quickly geopolitical shocks are feeding through to airline cost bases, with ?jet fuel prices soaring as refineries have been forced to cut output due to the loss of crude oil supply from the Middle East. While Qantas has hedged nL8N3ZY1RV much of its ?crude ?exposure, it remains significantly exposed to the spike ?in jet fuel spreads, it said. To ?offset rising costs, Qantas is lifting fares and shifting flights toward stronger routes such as Europe, where demand
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