Qantas raises fuel cost expectations and freezes stock buyback

Qantas Airways said on Tuesday that due to the surge in oil prices caused by the conflict in the Middle East, aviation fuel prices have risen sharply and fluctuated significantly. The company has revised its fuel cost expectations and suspended its planned share buyback program. Qantas stated that aviation fuel prices have more than doubled, leading to an increase in its fuel cost forecast for the second half of the 2026 fiscal year from the previously predicted 2.2 billion Australian dollars to 3.1 billion to 3.3 billion Australian dollars.