Qantas Airways Faces Volatile Jet Fuel Market Amid Middle East Conflict

Qantas Airways has revised its fuel cost outlook upward and delayed its share buyback program due to increased jet fuel prices following the Middle East conflict. The airline's fuel bill for the second half of fiscal 2026 is expected to rise significantly, reflecting the volatile oil market conditions.

Qantas Airways announced an upward revision of its fuel cost outlook on Tuesday, attributing the change to the escalating and unstable jet fuel prices resulting from the ongoing conflict in the Middle East, which has caused a spike in oil markets.

The Australian airline has adjusted its estimated fuel bill for the latter half of fiscal 2026 to A$3.1 billion–A$3.3 billion. This marks an increase from the previous forecast of A$2.5 billion, underscoring the impacts of global market volatility.

Despite initial plans, Qantas has deferred its share buyback initiative, highlighting the financial strain of the doubled jet fuel prices amidst the current geopolitical situation.

(With inputs from agencies.)