fuel bites QF profits, causes cuts

Qantas are looking to take a $140M hit in their second half profits thanks to rising fuel costs and natural disasters.  As well as an expected $25M loss caused by the A380 engine failure.

As a result Qantas are looking at cutting capacity and also staff.  Qantas are also looking to cut 4 weekly Australia - Japan Jetstar flights as well as one Perth - Tokyo QF flight and move forward the retirement of two 767s.

Qantas chief executive Alan Joyce said the measures included reductions in domestic and international capacity, retirement of aircraft, reduction of management positions and ongoing fuel surcharges.

Read the stories from AAP via stuff.co.nz HERE or Dow Jones Newswire writer Ross Kelly via theaustralian.com.au HERE