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Fuel costs the major concern for Qantas, says Jackson
Qantas Chairwoman Margaret Jackson spoke this week of the impact rising fuel prices are having on the carrier, claiming they posed a greater threat to their commercial success than SARS, the Tsunami or terrorist attacks.
Qantas’ fuel bill had jumped from $1.5 billion in 2002-03 to almost $3 billion this year and was forecast to reach almost $4 billion next year, she said.
“No one knows just how long high fuel prices will go,” Ms Jackson said.
“But I don’t think we’re ever going to get fuel prices back to the long-term average of about $30 a barrel.”
Qantas’ fuel costs made up about 30 per cent of the airline’s costs this year.
“To put that into perspective, two years ago they were only 13 per cent of our operating costs,” she said.
She said Qantas had to continue to change to survive in the competitive aviation environment.
The airline was introducing measures to reduce its fuel bill, such as buying more fuel-efficient new aircraft, she said.
“We are not considering any future fuel levy increases (at present). That’s not to say we won’t in the future because we don’t know.
“We never imagined fuel would get this high but it has, and everybody who drives a car can understand the impact of fuel and the costs to the economy as a consequence.”
Graham Muldoon
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