Qantas CEO Navigates Fuel Crisis

0:00From the Daily News Now Network, this is Corey with Sydney News Today. Quantess Chief Executive Vanessa Hudson, a 30-year veteran at the airline, is navigating the latest crisis in global aviation. Soaring fuel prices from the conflict involving Iran marked the third major disruption in just seven years after the COVID pandemic and rushes. Invasion of Ukraine. These unpredictable events keep shaking up the industry and demand more risk tolerance from investors. This and calls these the seven-year shocks due to their rare, but intense, frequency. This time, jet fuel costs have jumped 150 percent, forcing quantists to raise air fares by about 5 percent this week. Still, analysts that city predict a hit of $70 million to $90 million to pre-tax profits. Airlines worldwide are reacting fast. Air New Zealand suspended its yearly profit guidance amid the fuel chaos, while others like Air India and SAS added surcharges.

1:00Virgin Australia benefits from fuel hedging that cushions the blow, especially on domestic routes. Demand has shifted, too, with quantist flights to Europe be of Perth and Asia now fully booked, even in slower seasons. The airline is rerouting and planning scenarios, though it avoids Middle East flights directly. Oil prices remain wildly volatile over the past 11 days, swinging on mixed signals from US leaders like Donald Trump. Business shares dropped over 12 percent initially, but started recovering as talk of the conflict winding down emerged. For now, the team at headquarters braces for more uncertainty. The Daily News Now is presented by our sponsor. If earbuds fall out when you sleep, this is for you, a pillow with built-in sound, so L.I. SoleyPillow.com