Qantas CEO Alan Joyce said rising fuel prices and demand for international and domestic travel has prompted the airline to cut back its flight capacity and increase the price of airfares.
The airline on Friday revealed it will cut an additional five per cent of domestic flights for July and August on top of a 10 per cent reduction announced in May.
"It's still at 100 per cent of pre-COVID levels but we need to get airfares up because our oil bill, our fuel bill is $1.7b next year higher than it was before COVID, its record high.Mr Joyce said cutting the capacity down 10 per cent eases the pressure on the operation. "It's costing you more to get in the car and drive across the state. We buy over $4bn worth of fuel a year, our fuel bill has just gone through the roof so that has to come through in terms of the fares and the economics of a business.
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