News: QAN Qantas Says Rising Fuel Prices Require Group To Rebalance Capacity And Fares In Response

May 26 (Reuters) - Qantas Airways Ltd (QAN) :

• FUEL PRICES HAVE KEPT RISING OVER THE PAST MONTH AND REQUIRE THE GROUP TO REBALANCE CAPACITY AND FARES IN RESPONSE
• GROUP INTERNATIONAL CAPACITY REMAINS UNCHANGED AT JUST UNDER 50% OF PRE-COVID LEVELS BY END OF Q4 FY22
• CUTS TO DOMESTIC FLYING LEVELS FOR JULY & AUG BEING DEEPENED, WITH CAPACITY MOVING FROM 107% OF PRE-COVID LEVELS TO 103%
• WILL INCREASE FREQUENCY BETWEEN SYDNEY AND MANILA FROM FIVE FLIGHTS PER WEEK TO SIX FROM 20 JUNE INCREASING TO DAILY FROM MID-SEPTEMBER
• PUSHED BACK RESTART OF FLIGHTS BETWEEN SYDNEY AND SAN FRANCISCO FROM 30 JULY TO 30 OCTOBER
• WILL RESUME FLIGHTS FROM SYDNEY TO SANTIAGO FROM 30 OCTOBER, WITH FOUR FLIGHTS PER WEEK USING ITS 787S
• WILL WELCOME A THIRD A380 BACK FROM STORAGE
• JETSTAR RESTARTED FLIGHTS ON ALL AUSTRALIA TO AUCKLAND MARKETS AND WILL RESTART ON CHRISTCHURCH, QUEENSTOWN AND WELLINGTON IN NEXT FEW WEEKS
• FLIGHTS RESUMED FROM AUSTRALIA TO QUEENSTOWN AND WELLINGTON, AND ADDITIONAL ROUTES TO CHRISTCHURCH
• DOUBLED FREQUENCY ON FLIGHTS TO AUCKLAND FROM MELBOURNE AND SYDNEY AND IS OPERATING SOME FLIGHTS FROM BRISBANE WITH A330S
• GROUP INTERNATIONAL CONTINUES TO SEE STRONG DEMAND, PARTICULARLY MOVING TOWARDS NORTHERN SUMMER PEAK AND MORE COUNTRIES RELAX RESTRICTIONS

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