Australia's Qantas sees losses on international business
SYDNEY, June 22 |
SYDNEY, June 22 (Reuters) - Australia's Qantas Airways said it expected to post full-year pretax profit of between A$500 million ($529.7 million) to A$550 million as it struggles with the impact of higher fuel prices and losses on its international operations.
Qantas said it expected its international business to record a pretax loss of A$200 million in the 2011 financial year and the impact of disruptions due to bad weather and other factors would be higher than flagged previously.
Qantas forecast compares with broker consensus for pre-tax profit of A$554 million, according to Thomson Reuters I/B/E/S.
The airline last week announced plans to cut spending and cancel aircraft orders as it battles waning demand and soaring fuel costs.
($1 = 0.944 Australian Dollars) (Reporting by Michael Smith; Editing by Ed Davies)
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