Explore the latest developments concerning Qantas launches $99.
Qantas discounts millions of fares to bolster weakening sentiment
Qantas is cutting airfares on local flights despite skyrocketing aviation fuel prices as it bolsters bookings amid a broader slump in consumer sentiment.
The move to discount 2 million seats will put pressure on Virgin Australia to follow with its own fare reduction. Shares in both airlines have been sold off as investors fret about the higher cost of aviation fuel – despite Virgin having hedged most of its refining margins at the time it listed on the ASX.
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