Qantas Airways Limited : Qantas Books A$245 Million Annual Loss As Fuel Costs Soar
08/22/2012| 07:32pm US/Eastern
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By Ross Kelly
SYDNEY--Qantas Airways Ltd. (QAN.AU) Thursday reported its first annual loss since it was privatized almost two decades ago, as the end-of-line carrier haemorrhaged money from an ailing international flights unit grappling with soaring fuel costs.
Australia's flag carrier booked a net loss for the year to June 30 of 245 million Australian dollars (US$257.4 million), compared to a A$250 million profit a year earlier.
Underlying pre-tax profit of A$95 million was at the top end of company guidance of A$50 million-A$100 million and beat the A$65.9 million average of seven analysts' forecasts compiled by Dow Jones Newswires.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com
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