Qantas Warns of Fuel Crisis Impact

The conflict in the Middle East is having a severe impact on the aviation sector, with Qantas reporting that its near-term fuel bill could be up to 32% higher than anticipated.

CEO Vanessa Hudson warned that the airline must take proactive steps, including route cancellations and price hikes, to maintain profitability.

The move comes as other major carriers also face jet fuel shortages following the closure of the Strait of Hormuz.

Australian consumer confidence has plummeted to pandemic-era levels as the energy shock begins to ripple through the broader economy.