Qantas reports $256m loss and cancels plane orders
Australian airline Qantas has
reported its first annual loss since it was privatised in 1995, amid high fuel
costs and growing losses at its international operations.
The firm made a net loss of 244m Australian dollars ($256m; £161m) for the year to 30 June.
This compares with a net profit of A$250m in the previous year.
Qantas also cancelled orders for 35 Boeing Dreamliner jets worth $8.5bn due to "lower growth requirements".
Alan Joyce, chief executive of Qantas, said growth was expected to be slow due to the uncertain global economic environment.
"Clearly we confront very difficult and uncertain trading conditions in Britain, Europe and the United States," he said in a statement.
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