Qantas has a $256 mn loss

Carrier cancels purchase of 35 planes

Boeing 787-9 downturn foreign exchange impact fuel price global air freight markets net loss Qantas Qantas Freight

Qantas has posted a net loss of $256 million (Aus $245 million) for the year ended June 30. Last year, it had a profit of Aus$250 million. As for cargo, Qantas Freight’s EBIT totaled Aus$45 million, Aus$17 million lower year-over-year. The result reflected a broader downturn in global air freight markets, plus adverse fuel price and foreign exchange impacts, according to a Qantas release. The carrier has chalked out plans to save around $9 billion by cancelling the purchase 35 Boeing 787-9s.