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Qantas reports profit drop amid rising fuel costs and fleet changes
Qantas Airways has reported a 13.8% decline in its full-year underlying pre-tax profit, totaling A$2.06 billion. The company attributed the slump to surging jet fuel prices, exacerbated by geopolitical tensions in the Middle East, which cost the airline over A$420 million. In response to these economic pressures, Qantas has decided to cancel its A$150 million share buyback program and will begin retiring its Airbus A380 fleet in 2028 to improve capital efficiency.
Alongside financial updates, the airline announced significant changes to its Frequent Flyer program. Starting December 8, 2026, members will be able to earn Status Credits through everyday spending, such as credit card use and retail shopping. The overhaul also introduces a rollover feature, allowing members to carry over up to 50% of excess Status Credits to the next membership year.
To drive engagement, Qantas has also launched a temporary promotion offering members a choice between double Status Credits or double Qantas Points on eligible bookings made through early September 2026.
Entities
Adele Eliseo · Airbus · Andrew Glance · Boeing · Jetstar · Qantas · Qantas Airways · Reserve Bank of Australia · Vanessa Hudson
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] New loyalty rules will allow members to roll over up to 50 percent of excess Status Credits to the following membership year. karryon.com.au · loyaltylobby.com
- [● 2 SOURCES] Qantas reported an underlying pre-tax profit of A$2.06 billion for the fiscal year ending June 30. www.businesstimes.com.sg · www.fool.com.au
- [● 2 SOURCES] The US-Iran war conflict resulted in a direct cost of over A$420 million to the company. www.businesstimes.com.sg · stockhead.com.au
- [○ 1 SOURCE] Qantas decided to cancel its A$150 million share buyback program. www.businesstimes.com.sg
- [● 3 SOURCES] Starting December 8, 2026, Frequent Flyer members can earn Status Credits through everyday spending like credit cards and shopping. karryon.com.au · flighthacks.com.au · loyaltylobby.com
- [● 2 SOURCES] The airline declared a final dividend of 19.8 Australian cents per share. www.businesstimes.com.sg · www.fool.com.au
- [● 6 SOURCES] Qantas launched a promotion offering members a choice between double Status Credits or double Qantas Points for eligible bookings. traveltalkmedia.com.au · boardingarea.com · milelion.com · www.brisbanetimes.com.au · www.theage.com.au · +1 more
- [● 2 SOURCES] Qantas will begin retiring its Airbus A380 fleet starting in 2028. aviation.direct · www.businesstimes.com.sg