QAN 3.39% $5.70 qantas airways limited

loss coming first in 8 yrs?

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    3. Qantas Airways Limited (QAN), may report its first loss since selling shares in 1995 because war in Iraq and the SARS outbreak forced it to cancel flights and sack more than 1,400 workers. Qantas will post a loss of $15.5 million in the six months ended June 30, according to the average estimate of six analysts surveyed by Bloomberg News. The Sydney-based airline was forecast to report a record annual profit before the outbreak of severe acute respiratory syndrome and war. Chief Executive Geoff Dixon reacted by firing workers, delaying aircraft orders and retiring planes as bookings on routes to Japan, Hong Kong and the U.K. slumped and discount Virgin Blue Airlines Pty grabbed market share at home. Qantas will join Singapore Airlines Ltd. and Cathay Pacific Airways Ltd. in reporting losses for the most recent period. (Bloomberg)

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