Overview
- Qantas shares dropped as much as 10.4% to A$8.92 at the open, the lowest in 10 months and the weakest intraday showing since April 7, 2025.
- Losses later narrowed, with the stock down 5.8% by 23:45 GMT as trading volatility eased.
- Virgin Australia briefly fell 3.5% to A$3.03 before turning positive, and Air New Zealand pared a 0.5% slide to trade flat.
- Oil prices jumped more than 8% to multi‑month highs after U.S. and Israeli strikes on Iran, pressuring airline fuel costs.
- Closures at Dubai and Doha continued to strand tens of thousands and disrupt thousands of flights, with Virgin canceling eight services and Qantas offering free rebooking.