Oil to crimp Qantas earnings

SYDNEY: Rising oil prices and international competition are expected to crimp Qantas’ annual earnings results, according to Deutsche Bank.
Deutsche has cut its earnings forecasts for the year ended June 30, as well as the next two financial years as a result of the tough trading environment.
Analyst Cameron McDonald said Deutsche has reduced its yield assumptions given the ongoing revenue pressures.
Deutsche has cut its net profit forecast by four per cent to A$1 billion (K2b) for the year ended June 30 from its previous forecast of A$1.05b (K2.5b).
The bank has cut its annual earnings before interest and tax margin forecast by 1.8 per cent and sales forecast by 1.5 per cent to A$16.25b (K38b). – AAP