Qantas Cut Flights to China, Earnings to Be Hit by Coronavirus

Qantas Cut Flights to China, Earnings to Be Hit by Coronavirus
Workers are seen near Qantas Airways, Australia's national carrier, Boeing 737-800 aircraft on the tarmac at Adelaide Airport, Australia, on Aug. 22, 2018. Reuters/David Gray
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Qantas has posted an interim net profit slide to A$445 million ($297.78 million), blaming the 3.9 percent drop on protests in Hong Kong, higher foreign exchange costs and slower global freight demand.

The coronavirus outbreak in the second half has added to Qantas’ woes and is expected to cut A$100 million to A$150 million ($66.92 Million to $100.38 million) off its bottom line.