While the oil price per barrel/litre has increased, whether it...

While the oil price per barrel/litre has increased, whether it rises further may depend on Israel's response to the attacks by Iran (that were largely foiled). With the current Israeli leadership, my guess is there will be a response, but who knows how severe. I am no expert on geopolitics. The Middle East has had many wars or skirmishes in the last 70 years.

I haven't checked what level of hedging QAN has, but there will be some, so presumably it won't be affected for every kilogram of jet fuel it pipes into aircraft fuel tanks.

However, eventually if the oil price stays at higher levels (say up to US$100 a barrel) than typically seen in the past year, QAN will be adversely affected.

With domestic fares already high and household savings low according to WBC's recent survey, there will be resistance to economy travellers paying more for flights. Businesses may further pull back on corporate flights.