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Markets News

Australia's Qantas says took $71 mln hit on earnings from state border closures

SYDNEY, Oct 23 (Reuters) - Qantas Airways Ltd said on Friday that Australian state border closures due to the coronavirus pandemic had cost it A$100 million ($71.26 million) in earnings in the first quarter and would have a negative impact in the second quarter as well.

The airline is running less than 30% of its normal domestic capacity due to border closures, having earlier expected to be operating around 60% at this time, Qantas Chief Executive Alan Joyce said in a speech to the airline’s annual meeting.

The airline’s financial year ends June 30, 2021. ($1 = 1.4033 Australian dollars) (Reporting by Jamie Freed; Editing by Jacqueline Wong)

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