DALLAS – Australian flag-carrier Qantas (QF) has announced its intention to slash domestic flight capacity until March 2023. The airline is blaming cost pressures from record-high oil prices, which have added over AU$1 billion (US$690 million) to its fuel bill.
Speaking at a press conference, QF CEO Alan Joyce said, “The reality is we’re taking capacity out because of oil prices. We buy over $4 billion in fuel every year. Our fuel bill has gone through the roof. So that has to come through in terms of the economics of the business.”