SYDNEY: Surging jet fuel prices may raise costs for Australia’s Qantas by up to A$800 million (US$570 million) in the second half of this year, the airline said Tuesday.
War in the Middle East has led jet fuel prices to more than double, and they remain “extremely volatile”, the carrier said in a market update.
The cost of jet fuel in the second half of 2026 is now expected to be A$3.1 billion to A$3.3 billion, it said – up from A$2.5 billion in its previous forecast.
Qantas said it was working with the Australian government and jet fuel suppliers, who were confident in fuel supply for the rest of April and well into May.
“We are closely monitoring the situation given the ongoing uncertainty in global fuel supply chains,” the airline group said.