Due to rising fuel costs, Qantas' annual profit drops by nearly 20%

The annual report for fiscal year 2026 released by Australian Qantas Group on the 27th showed that due to increased fuel costs caused by the Middle East conflict, the group's after-tax profit for the fiscal year dropped by nearly 20% year-on-year. According to the report, for the fiscal year ending June 30 this year, the group’s pre-tax profit was 2.06 billion AUD (1 USD is approximately 1.4 AUD), down 13.8% year-on-year; after-tax profit was 1.29 billion AUD, a year-on-year decrease of more than 19%. Qantas Group CEO Vanessa Hudson said that due to elevated fuel prices driven by the Middle East conflict, the group’s fuel costs for the fiscal year increased by 610 million AUD. (Xinhua News Agency)