Qantas Airways Limited Share Price Falls as Oil Spike and China Fuel Ban Raise Cost Fears
Qantas Airways shares dropped 1.9% to A$8.56 in early Sydney trading after oil prices surged and China halted fuel exports. Brent crude climbed 5.6% to $107.38 a barrel following Iranian missile strikes, raising jet fuel costs. Qantas, over 80% hedged for crude, has already increased international fares. Air New Zealand and Cathay Pacific also reported pressure from rising fuel prices and limited hedging protection.