Qantas Airways reports that the 'negative impact' from the coronavirus outbreak will likely cost it between 100 million and 150 million Australian dollars ($67 million to $100 million) in pre-tax profit for the second half of the company's fiscal year.
The airlines on Thursday estimated the financial cost from the outbreak, which has forced airlines around the world to cancel flights in Asia. These airlines have suspended flights to and from ChinaQantas, the flagship carrier of Australia, reported the coronavirus could reduce its profit by up to 150 million Australian dollars in the second half of its fiscal year.Hours later, Air France-KLM said that the virus could slash its earnings by as much as €200 million between February and April.
Qantas CEO Alan Joyce said Thursday that the airline plans to reduce flights across Asia by 15% until the end of May because of weak demand to Hong Kong, Singapore and Japan."We have a lot of flexibility in how we respond," Joyce said during an earnings presentation."We can extend these cuts, cut deeper if we need to, or add capacity back in.
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