August 21, 2019 / 10:35 PM / a month ago

Qantas annual profit drops, hit by higher fuel costs

Aug 22 (Reuters) - Australia’s Qantas Airways Ltd reported a 17% drop in annual profit on Thursday, hurt by higher fuel costs and a weaker Australian dollar.

Underlying pretax profit, the airline’s most closely watched measure, came in at A$1.30 billion for the year ended June 30, down from A$1.6 billion a year earlier.

The figure was below an estimate of A$1.36 billion from an average of eight analysts, according to Refinitiv data.

Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Bernard Orr

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